{"id":259511,"date":"2013-12-20T17:20:00","date_gmt":"2013-12-20T22:20:00","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/uncategorized\/growthworks-preparing-for-second-phase-of-sale-process\/"},"modified":"2017-12-14T12:02:56","modified_gmt":"2017-12-14T17:02:56","slug":"growthworks-preparing-for-second-phase-of-sale-process","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/products\/growthworks-preparing-for-second-phase-of-sale-process\/","title":{"rendered":"GrowthWorks preparing for second phase of sale process"},"content":{"rendered":"<p> Toronto-based GrowthWorks Canadian Fund Ltd. today announced that a special committee of its board of directors has authorized phase II of the sale and investor solicitation process to be undertaken by the labour-sponsored investment fund following its filing for creditor protection.<\/p>\n<p> During phase I, the fund&#8217;s financial advisor, CCC Investment Banking, solicited and received non-binding letters of intent from several interested parties to acquire or to invest in the fund.<\/p>\n<p> In consultation with the fund and CCC, FTI Consulting Canada Inc., in its capacity as the court-appointed monitor of the fund in during the creditor protection proceedings, determined that multiple letters of intent were qualified for inclusion in phase II.<\/p>\n<p> The fund, with the assistance of CCC, will now make additional information available to parties invited to phase II and will then seek submission of binding proposals regarding a transaction with the fund.<\/p>\n<p> Phase II is expected to require a period of several weeks to complete.<\/p>\n<p> &#8220;We are optimistic about phase II of the process and we will continue to work with these parties with a view to concluding a transaction for the benefit of all of the fund&#8217;s stakeholders,&#8221; said C. Ian Ross, chairman and interim CEO of the fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several parties have expressed interest in acquiring or investing in the labour-sponsored investment fund<\/p>\n","protected":false},"author":38954,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2315],"tags":[2538],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/259511"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/38954"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=259511"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/259511\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=259511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=259511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=259511"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=259511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}