Simsbury private equity and real estate company Landmark Partners said it will acquire pieces of Toronto-based Aberdeen International’s investment portfolio for $29 million.
Aberdeen, a publicly traded investment and merchant banking company, did not disclose exactly which of its portfolio investments Landmark will purchase.
But according to Aberdeen’s financial reports filed with the Toronto Stock Exchange, it had investments in 38 public and private companies totaling $37.2 million as of April 30.
Its portfolio consists of small-cap companies in the metals and mining sectors, mostly based in Ontario and British Columbia.
Aberdeen will provide management services to Landmark upon the deal’s closing, expected by Oct. 15.
The company intends to use the proceeds from Landmark to make other investments in companies in the pre-initial public offering stage and resource companies it sees as undervalued.
Under its deal with Landmark, Aberdeen could receive an additional $2 million if certain undisclosed milestones are achieved.
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