CapMan Plc's Access sale called off

CapMan Plc Stock Exchange Release With the cancellation of the transaction CapMan Plc's result in 2008 will fall clearly behind the 2007 result. The Spanish N+1 Group (N+1) has informed CapMan Plc that due to the current general financial crisis it is unable to utilise the pre-agreed financing for the acquisition of Access Capital Partners Group S.A. (Access) shares from CapMan Plc. As a result, N+1 intends to call off the transaction. CapMan Plc is waiting for a written notice on the matter from N+1, and will continue as a 35 per cent owner of Access. The parties continue to discuss possible other forms of co-operation. CapMan Plc announced on 25 July 2008 that it has signed an agreement for the transfer of CapMan's 35 per cent stake in Access to N+1. The announced transaction price for Access shares was at the time of the... [read full story]