Dundee Corporation to Sell 20% Stake in Android Industries
Deal News | Feb 26, 2025 | Globenewswire
Dundee Corporation announced its divestiture of a 20% stake in Android Industries, L.L.C., a company specializing in technology-enabled assembly and sequencing for the automotive industry. Expecting cash proceeds of approximately C$24.5 million, with an additional C$6.9 million contingent on escrow releases, this transaction aligns with Dundee's strategic plan to focus capital allocation on its core mining ventures. The deal, subject to customary closing conditions and regulatory approvals, is anticipated to finalize by the end of Q1 2025. This move signifies Dundee's ongoing endeavor to optimize its asset portfolio, reinforce shareholder value, and bolster its mining sector focus under the leadership of President and CEO, Jonathan Goodman.
Sectors
- Automotive Industry
- Mining Industry
- Investment and Holding Companies
Geography
- Canada – Dundee Corporation is based in Toronto, Canada and is listed on the Toronto Stock Exchange.
- United States – Android Industries, the company in which Dundee holds a stake, is located in the United States.
Industry
- Automotive Industry – Android Industries is involved in complex assemblies for the automotive industry, making this industry directly relevant.
- Mining Industry – Dundee Corporation is reinvesting proceeds from the sale into its core focus on mining investments.
- Investment and Holding Companies – Dundee Corporation is a public holding company focused on investment in various sectors, prominently mining.
Financials
- C$24.5 million – The immediate cash proceeds Dundee anticipates from selling its 20% interest in Android Industries.
- C$6.9 million – Additional funds payable contingent upon the release of all escrows post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Dundee Corporation | Selling Company | Company | A Canadian independent holding company focused on long-term investments in the mining sector. |
| Android Industries, L.L.C. | Target Company | Company | A private company specializing in technology-enabled assembly and sequencing of complex automotive assemblies. |
| Jonathan Goodman | President and CEO of Dundee Corporation | Person | Leading Dundee Corporation's strategic shift towards mining investments. |