Chesswood (TSE:CHW) has released an update.
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Chesswood Group Limited has sold its entire Canadian equipment leasing and consumer financing business, Vault, to HB Leaseco Holdings Inc. affiliate for C$60 million, which will help reduce the company’s debt. This sale is part of Chesswood’s strategic plan to meet the conditions of a waiver from its lenders and to explore further financial restructuring to enhance stakeholder value.
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