SINGAPORE (Sept 4): New Silkroutes Group’s proposed 100% acquisition of American investment holding company Capital Group Investments has lapsed due to “certain restructuring” within Capital Group.

On Feb 3, New Silkroutes had announced its intention to acquire Capital Group, which owns shares in CG Capital Partners, a stakeholder in New York-based broker-dealer and investment bank CG Capital Markets, for US$14.4 million ($20 million).

On June 30, the group said that the long-stop date of the sale and purchase agreement (SPA) it had entered into with Capital Group has been extended to Aug 31 from June 30 previously.

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