June 28 (Reuters) - Moelis Australia Ltd (MOE) :
- Acquisition of Redcape Hotel Group & earnings upgrade
- Moelis Australia will invest $40 million in fund as a strategic investment
- Moelis Australia plans a future IPO of fund on ASX
- Agreed to acquire Redcape Hotel Group for $677 million
- Forecast underlying EBITDA for FY17 would have been $36 million (a 55% increase on prospectus forecast of $23.2 million)
- Expects to have in excess of $2.5 billion of assets under management by 31 December 2017
- Moelis Australia Redcape Hotel Group is forecast to deliver an initial cash yield to investors of 8.75% per annum (paid quarterly)
- Moelis Australia Redcape Hotel anticipates earnings growth of 3% - 5% per annum
News: MOE Moelis Australia updates acquisition of Redcape Hotel Group
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Mkt cap ! $839.6M | |||
| Open | High | Low | Value | Volume |
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