Spectrum Group International (SPGZ) announced today it has entered into a purchase agreement with Afinsa and Auctenia to purchase their remaining 3mm (figure is as of 12/31/13) shares for ~$6.4mm (10% premium). The purchase is being broken into three separate purchases: 50% now, 50% on or prior to July 1st (SPGZ will receive 4% interest) and a third payment in which Afinsa and Auctenia will sell its A-Mark spinoff shares back to SPGZ.
The A-Mark spinoff, which was suppose to occur 2/28, will now happen in early March.
