Dolphin Capital completes €140m sale of Dominican Republic golf resort

8th Dec 2016 08:44

(ShareCast News) - Dolphin Capital Investors has completed the sale of its golf resort in the Dominican Republic for €140m.The AIM-listed company sold the Playa Grande Golf and Resort to a joint venture comprising an affiliate of Third Point, the company's largest shareholder, an affiliate of Discovery Land and others.So far, the company has received €4.6m in cash, of which €900,000 is earmarked to remain in escrow to cover claims and liabilities.All of its €50m and $9.17m worth of convertible bonds, which were managed by Third Point, have been cancelled.Shares in Dolphin Capital Investors were down 2.5% to 7.80p at 1046 GMT.