LONDON (ShareCast) - (ShareCast News) - Dolphin Capital Investors has completed the sale of its golf resort in the Dominican Republic for €140m.
The AIM-listed company sold the Playa Grande Golf and Resort to a joint venture comprising an affiliate of Third Point, the company's largest shareholder, an affiliate of Discovery Land and others.

So far, the company has received €4.6m in cash, of which €900,000 is earmarked to remain in escrow to cover claims and liabilities.

All of its €50m and $9.17m worth of convertible bonds, which were managed by Third Point, have been cancelled.

Shares in Dolphin Capital Investors were down 2.5% to 7.80p at 1046 GMT.

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