March 5 (Reuters) - Coles Group Ltd (COL) :
- ENTER INTO INCORPORATED JOINT VENTURE IN RESPECT OF COLES' HOTELS AND QUEENSLAND RETAIL LIQUOR BUSINESS
- WILL RECEIVE CASH CONSIDERATION OF APPROXIMATELY $200 MILLION AT COMPLETION
- ESTABLISHMENT OF QUEENSLAND VENUE CO, JV COMPANY IN WHICH COLES AND AVC WILL OWN AN EQUAL NUMBER OF SHARES
- UNDER JV, AVC WILL MANAGE DAY-TO-DAY OPERATIONS OF SPIRIT HOTELS AND WILL RECEIVE ECONOMIC BENEFIT OF THIS BUSINESS
- ON COMPLETION, COLES TO RECEIVE PROCEEDS OF ABOUT $200 MILLION WHICH IS EXPECTED TO RESULT IN ASSOCIATED BOOK LOSS ON SALE OF ABOUT $20 MILLION
- ENTERED INCORPORATED JOINT VENTURE WITH AUSTRALIAN VENUE CO IN RELATION TO COLES' HOTELS BUSINESS, SPIRIT HOTELS
Source text: bit.ly/2ThvSog
(([email protected];))
News: COL Coles Group Enters Incorporated JV With Australian Venue Co
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Last
$23.93 |
Change
-0.040(0.17%) |
Mkt cap ! $32.08B | |||
| Open | High | Low | Value | Volume |
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| 19 | 1875 | $23.92 |
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|---|---|---|
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