TORONTO, May 24, 2019 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) today announced that it and Clairvest Equity Partners III (collectively, “Clairvest”) has entered into a memorandum of understanding (“MOU”) to merge Chilean Gaming Holdings with Sun Dreams S.A., another large South American operator of casino properties (the “Merger”). The details of the Merger and related transactions are outlined in the news release of Sun International Limited (link: https://corporate.suninternational.com/investors/sens/) which was issued today.
The Merger is subject to several key conditions, including completion of due diligence and entering into definitive documentation.
About Clairvest
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.
Forward-looking Statements
This news release contains forward-looking statements with respect to Clairvest Group Inc., its subsidiaries, its CEP limited partnerships and their investments. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clairvest, its subsidiaries, it CEP limited partnerships and their investments to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Such factors include (i) due diligence with respect to the Merger, (ii) the ability to enter into definitive documentation on satisfactory terms, (iii) performance of Chilean Gaming Holdings and Sun Dreams before the Merger is completed, (iv) general Chilean market conditions (including for a potential IPO), and (v) obtaining all necessary regulatory and third-party approvals. Clairvest is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
Contact Information
Maria Shkolnik
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
marias@clairvest.com