ADAM sells interest in Global Pharm

Adamas Finance Asia has sold its interest in Global Pharm Holdings Group.

ADAM said the transaction was in line with the company's objective of maximising shareholder returns through a managed disposal programme of its legacy portfolio where commercially viable and reinvesting the proceeds in pan-Asian income producing assets with capital gain potential.

The company said it had agreed to sell its 75% interest in Blazer Delight, through which ADAM holds its interest in Global Pharm, to Fortune Insight for $15.6m in cash.