Wednesday, 25 May 2011

Carfinco - Business As Usual & Business Is Good

Carfinco Income Fund TSX:CFN.UN
Units Outstanding: 23.97 million
Units fully diluted: 24.6 million

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In January this year Carfinco hired FBR Capital Markets to evaluate whether or not a sale of the Fund was in the best interest of unitholders.

Today, the Fund announced that although there were several suitors, the Board of Trustees has decided that, "none of the proposals received to date benefited the Fund and its Unitholders sufficiently to warrant further consideration."

Management hasn't deviated from its plans for continued strong growth during the review process. Q1 numbers will be released in the next couple of weeks with an expectation that the results will be reflective of management's efforts.