EGN engenco limited
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News: EGN Engenco says Greentrains entered into unconditional asset sale agreement

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    28/04/16
    17:00
    Post #: 17623370

    April 28 (Reuters) - Engenco Ltd (EGN) :

    • Greentrains limited (Greentrains) has entered into an unconditional asset sale agreement
    • Deal to sell majority of locomotive fleet to parent entity of rail freight services company, Southern Shorthaul Railroad Pty Ltd
    • Says net proceeds of sale, is expected to exceed A$6 million
    • Proceed will be applied towards reducing the circa. A$17.8 million secured debt owed by greentrains to engenco's major shareholder
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