Pyne Gould Corporation's Torchlight Investment Group has sold its 38% stake in Australia-based van Eyk Research for $A13.3 million to interests associated with London-based investor Andrew Barnes.
As part of the deal, van Eyk has repaid $A7.2 million Torchlight lent it last year.
The sale, first flagged in January, follows last month's sale to van Eyk of Pyne Gould's Perpetual Asset Management and Perpetual Portfolio Management.
The businesses were sold for a total of $A8 million with $A2.4 million in cash and the rest as a convertible note in van Eyk.
Managing director George Kerr says the sale of the remaining Perpetual business, Perpetual Trust, should be completed shortly.
