Chant West’s legal action against Zenith owners
Publicly-listed superannuation and financial services researcher, Chant West has launched legal action against the owners of research and ratings house, Zenith, over its decision to withdraw from a sales transaction.
Chant West informed the Australian Securities Exchange (ASX) that it had filed proceedings against CW Bidco in the NSW Supreme Court seeking to compel it to complete the sale of the Chant West business on the terms agreed in February.
The ASX announcement said it continued to reject allegations that a material adverse change in the business had occurred stating that Chant West had delivered a positive earnings before interest, taxes, and amortisation (EBITDA) for the first half of FY 2020 and the board remained confident that it would continue this trend in the second half.
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