Origin Merchant Partners is pleased to announce Automotive Finco Corp. (“Auto Finco”) has reported that under the terms of its substantial issuer bid, it expects to take up and purchase for cancellation approximately 3.3 million common shares representing approximately 14.3% of its issued and outstanding common shares. Origin Merchant Partners provided a Liquidity Opinion to the Board of Directors with respect to this transaction.
Auto Finco (TSX-V: AFCC) is a finance company focused exclusively on the auto retail sector. Through its investment in Automotive Finance LP, Auto Finco has exposure to a business providing long term, debt- based acquisition financing to auto dealerships across the globe, with an initial focus on Canada. In addition to its interest in Automotive Finance LP, Auto Finco may also pursue other direct investments and financing opportunities across the auto retail sector.