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BAPCOR LIMITED — Capital/Financing Update 2015
Jul 30, 2015
64494_rns_2015-07-30_ed515ef0-c30a-451a-b199-80f8f6e4e7de.pdf
Capital/Financing Update
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Metcash Limited ABN 32 112 073 480 50 Waterloo Road Macquarie Park NSW 2113 Australia
31 July 2015
ASX Announcement
Metcash completes sale of Automotive to Burson Group
Metcash Limited (“Metcash”) today announced it had completed the sale of Metcash Automotive Holdings Pty Ltd, including the recently acquired Opposite Lock business, to Burson Group Limited (ASX: BAP).
The total consideration, inclusive of minority shareholder interests, was $283m. Metcash received net proceeds of $225m (before tax).
Metcash previously announced that the sale proceeds would be invested in the group’s balance sheet and businesses. Metcash has used part of the proceeds to redeem US$200m of outstanding US Private Placement notes.
(ENDS)
For further information: Stephen Woodhill Group General Manager Corporate Affairs +61 (0)413 318 455