k1 Ventures completes disposal of interests in Guggenheim Capital

It has since suspended trading of shares in SGX.

k1 Ventures Limited has announced the completion of divestment of entire interests in Guggenheim Capital for a gross cash consideration of $299.95m (US$221m).

According to a press release, the company has disposed of all or substantially all of its assets or property following the divestment in the United States on November 17.

To avoid market speculation on the company’s value, k1 has suspended trading of its shares in Singapore Exchange Securities Trading Limited (SGX-ST) from November 20 onwards for an indefinite period of time.

k1’s ownership interests in Guggenheim is composed of 100,000 Series A preferred units, 250,000 common units, 11,111,111 detachable warrants, and an additional 1.85 million common units.