- Alternative finance investor GLI Finance said Tuesday its partially owned subsidiary BMS Finance had entered into an agreement to sell its loan assets to BPC.

Pursuant to the transaction, GLI expects to receive £7.0m, which would include a £0.275m payment to BMS AB, a wholly owned subsidiary of GLI.

Following the sale of the loan assets, BMS Ireland would be wound up and cash distributed to investors, and GLI would cease to be the company's' investment advisor.

For the year ended 31 December 2017, BMS Ireland had gross assets of €25.4m.

'The transaction is subject to, among other things, shareholder approval of BMS Ireland and is expected to close on or before 1 August 2018,' GLI Finance said.

At 10:07am: [LON:GLIF] GLI Finance Ltd share price was 0p at 9p

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