May 13 (Reuters) - Commonwealth Bank of Australia (CBA) :
- CBA - ANNOUNCES AGREEMENT TO SELL 55% STAKE IN COLONIAL FIRST STATE TO KKR
- CBA - TRANSACTION IMPLIES A TOTAL VALUATION FOR CFS ON A 100% BASIS OF $3.3 BILLION
- CBA - WILL RESULT IN CBA RECEIVING CASH PROCEEDS OF APPROXIMATELY $1.7 BILLION FROM KKR
- CBA- CBA AND KKR INTEND TO UNDERTAKE A SIGNIFICANT INVESTMENT PROGRAM
- CBA - TRANSACTION IS EXPECTED TO DELIVER AN INCREASE OF ABOUT $1.4-1.9 BILLION OF COMMON EQUITY TIER 1 CAPITAL
- CBA- SALE PRICE ESTIMATED TO RESULT IN A POST-TAX GAIN ON SALE OF ABOUT $1.5 BILLION
- CBA - COMPLETION IS EXPECTED TO OCCUR IN FIRST HALF OF CALENDAR YEAR 2021
- CBA- TRANSACTION NOT EXPECTED TO HAVE ANY IMPACT ON ONGOING REMEDIATION ACTIVITIES THAT RELATE TO CFS
https://www.asx.com.au/asxpdf/20200513/pdf/44hshcc1wb7166.pdf
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