Consolidated Capital Investments (ASX:CNC) may be left with a significant shareholding in Sofcom Holdings (ASX:SOF) after the dust settles on the latter's reverse takeover plan.
Consolidated had arranged to acquire a 19.9 holding in online gambling company 2up Holdings, if shareholders approve the deal at an upcoming AGM.
But in the interim, Sofcom has arranged to acquire 2up in a reverse takeover that would see Sofcom change its name to 2up Holdings and relist on the ASX.
This will potentially result in CNC having a substantial holding in Sofcom post-acquisition, Consolidated advised investors today.
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