In recent CR presentation, chairman Peter George has re-confirmed the Hudson Pacific will be sold/closed by this year end. RFG has previously advised interests from the potential buys were always there but hasn't met company's expectation.
One can reasonably speculate it could be sold at a discount to it's original purchased price of $88m in 2016, but still tens of millions at least.
If the sale eventually occur as planed, the group will has one less loss-making burden and the proceeding could be applied to further reduce the $75m loan facility, that will virtually make the company totally debt free in the coming month.
The business is still challenging however Peter George is doing a good job so far.
RFG Price at posting:
11.5¢ Sentiment: None Disclosure: Held
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