Torchlight lifts stake in South Canterbury Finance

George Kerr’s Torchlight Fund said it would raise its investment in South Canterbury Finance by $15.5 million, taking its investment in its parent company Southbury to $37.5 million.

South Canterbury Finance chairman Allan Hubbard says the additional investment endorses the repositioning of the business over the last six months.

“Strategically, South Canterbury Finance is one of only a handful of finance companies with the ability to provide funds for business growth and development beyond the traditional banking sector,” Hubbard said.

Torchlight Fund chairman George Kerr said Torchlight was committed to helping South Canterbury execute its strategy of moving towards three business groups - traditional finance, private equity, and real estate and asset management.

Subject to approvals, the $15.5 million will be invested on May 31.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

South Canterbury expects to name investor tomorrow
SCF cut deeper into junk
SCF eases liquidity concern in debenture roll-over
Q3 operating profit a turning point, says South Canterbury Finance
South Canterbury Finance appointment Group Treasurer
South Canterbury reaping '$1 million a week' from distressed assets