Trinity Capital enters sale & purchase agreement for TCM with DB Realty

Investment banking firm Trinity Capital, on Wednesday, said it had entered into a sale and purchase agreement with DB Realty Limited to receive the equivalent of £1.7m, while it extended the deadline for receipt of unconditional bids, regarding its auction of Trinity Capital Mauritius.

That agreement related to all the compulsorily convertible preference shares, in which its wholly owned subsidiary Trinity Capital Mauritius owns economic interest, issued to it by DB Realtors Private limited, a Mumbai based Real Estate development company.

However, completion of the transaction hinged on Trinity's managing to obtain all final regulatory approvals in India.

In order to allow the transaction to complete, Trinity also extended the deadline for the auction of Trinity Capital Mauritius for a second time, to 10 November.

If the transaction was successful then Trinity would cancel the auction.