Dec 31 (Reuters) - Peet Ltd (PPC) :
- MOVES TO 100% OWNERSHIP OF FLAGSTONE CITY PROJECT
- AGREED TO ACQUIRE SPIRIT SUPER'S 50% SHAREHOLDING IN FLAGSTONE CITY PROJECT IN QUEENSLAND
- ACQUISITION IS BEING FUNDED FROM EXISTING CASH AND DEBT FACILITIES
- TO ACQUIRE SPIRIT SUPER'S SHARE IN PROJECT FOR A$46.15 MILLION
- IN ADDITION TO PAYMENT, PEET WILL ASSUME AN ADDITIONAL A$21 MILLION OF DEBT, REPRESENTING SPIRIT SUPER'S SHARE OF PROJECT'S DEVELOPMENT LOAN
- GROUP'S LIQUIDITY EXPECTED TO REMAIN STRONG WITH CASH AND AVAILABLE DEBT FACILITIES FORECAST TO AVERAGE A$93 MILLION OVER NEXT 18 MTHS
Add to My Watchlist
What is My Watchlist?