Origo Partners in line to receive $4.2m from Celadon Mining sale

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Private equity investment group Origo Partners said it could receive $4.2m in proceeds if an acquisition of investee company Celadon Mining goes ahead of planned.

The company said it had been informed by the controlling shareholder of Celadon that it had agreed to be acquired by a 'third party' for about RMB 330m ($47m).

Closing of the deal was scheduled for the earlier of either the lifting of certain Covid-related travel restrictions, or 31 December.

Origo Partners said it invested around $13.1m in Celadon in 2011.

'The company has not been involved in the negotiations for the sale of the Celadon assets and has no direct insight into whether closing will occur as planned,' it said.

At 8:50am: (LON:OPP) Origo Partners PLC share price was +0.18p at 0.3p