GAM has repaid the loan provided by Liontrust, following the collapse of the takeover deal last month.
In a stock exchange notice today (5 September), the UK asset manager, which has narrowly avoided demotion from the FTSE 250, confirmed GAM has repaid the £8.9m plus interest owed from its tranche 1 facility and has since been cancelled. The firm was also provided a tranche 2 facility of £8.9m, which was not drawn, and has since also been cancelled. GAM given 30 days to repay Liontrust loan "As a result, there is no outstanding indebtedness between Liontrust and GAM, and Liontrust's financial support of GAM has ended," the statement read. Following the termination of the takeover...
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