The Municipality of Kincardine announced today the decision to accept Windsor Private Capital’s offer to purchase all of the shares of Bruce Telecom Holdings in an all-cash transaction.
The decision to sell is a result of an unsolicited, non-binding, conditional proposal from the company.
The board of Bruce Telecom investigated & validated the offer made a recommendation to the Municipality for its consideration.
The offer was subjected to an independent 3rd party review.
The purchase price is valued at $32.65 million dollars less disbursement and closing costs.
Kincardine Mayor Kenneth Craig said that Council will determine how to best use the funds from the sale through strategic planning and budget setting processes.
