Canadian private equity firm Birch Hill Equity Partners has sold its interest in BIOX Corp (TSX: BX), a Hamilton, Ontario-based producer of biodiesel fuel from a variety of agricultural feedstocks. Birch Hill sold its common shares, representing about 16.2 percent of BIOX’s issued and outstanding shares, for about $6.7 million in a private transaction with FP Resources Ltd, an affiliate of Clearwater Fine Foods Inc. In August 2006, Birch Hill invested $48 million in BIOX as part of a $70 million deal.
Birch Hill Equity Partners Announces Sale of Biox Corporation Shares
TORONTO, Dec. 15, 2016 /CNW/ – Birch Hill Equity Partners Management Inc. (“Birch Hill”), as general partner of each of Birch Hill Equity Partners III, LP, Birch Hill Equity Partners (SC) III, LP, Birch Hill Equity Partners (US) III, LP and Birch Hill Equity Partners (Entrepreneurs) III, LP announced today that it holds no issued and outstanding common shares of BIOX Corporation (TSX: BX) (the “Issuer”).
On December 15, 2016 Birch Hill sold 7,475,000 common shares (the “Shares”) of the Issuer, representing approximately 16.2% of the issued and outstanding common shares of the Issuer, in a private transaction with FP Resources Limited. The Shares were sold for cash consideration of $0.89788 per Share for an aggregate cash consideration of $6,711,687.50.
An early warning report will be electronically filed with the applicable securities commission in each jurisdiction where the Issuer is reporting and will be available on SEDAR at www.sedar.com.
Birch Hill Equity Partners Management Inc.
100 Wellington Street West
Suite 2300, TD West Tower
P.O. Box 22
Toronto, ON M5K 1A1
For further information: or to obtain a copy of the early warning report, please contact Michael Salamon at (416) 775-3812
Photo courtesy of BIOX Corp