June 22, 2017 / 3:36 AM / a month ago

Home Capital to get C$2 bln credit facility from Berkshire Hathaway

1 Min Read

June 21 (Reuters) - Home Capital Group Inc said Berkshire Hathaway Inc will indirectly buy C$400 million ($300.2 million) of its common shares in a private placement and provide a new C$2 billion line of credit to Home Trust Company.

Berkshire will take an about 38.39 percent equity stake in the company with an initial investment of C$153.2 million to buy 16 million common shares.

Berkshire will not be granted any rights to nominate directors of Home Capital or any governance rights as an equity holder, Home capital said in a statement on Wednesday.

$1 = 1.3323 Canadian dollars Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Gopakumar Warrier

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below