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BRIEF-Allied Minds cuts funding for seven subsidiaries in restructuring
April 5, 2017 / 6:13 AM / 6 months ago

BRIEF-Allied Minds cuts funding for seven subsidiaries in restructuring

April 5 (Reuters) - Allied Minds Plc

* Will undertake a restructuring, reallocating capital and management resources across portfolio and pipeline

* Restructuring will result in discontinued funding for 7 subsidiaries

* A process will be undertaken to seek strategic alternatives for these businesses, which could include sales or transfers of legal entities or assets, or liquidations

* Discontinuation of funding at these subsidiaries will free up approximately $14 million of capital spend budgeted for 2017 Source text for Eikon: Further company coverage: (Reporting By London Bureau)

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