JAMES Packer's private equity arm Archer Capital has come to the rescue of another company, buying ABC Learning Centre's stake in Funtastic.
Archer has led a consortium to buy ABC’s 22 million Funtastic shares by special crossing.
The agreement gives the consortium a relevant interest in 18.8% of the issued capital of Funtastic, when combined with the current holding of other consortium members.
Under the Proposal, the consortium is seeking to acquire all of the ordinary shares on issue in Funtastic at 80 cents per share by way of scheme of arrangement.
Australian Property Journal
