AI assistant
BAPCOR LIMITED — Capital/Financing Update 2017
Oct 10, 2017
64494_rns_2017-10-10_bf4c0737-9d59-4d83-92a0-c8511695ad01.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [596 x 95] intentionally omitted <==
Bapcor Limited
(ASX: BAP)
ASX Release
11 October 2017
Sale of Non-Core businesses
Bapcor Limited is pleased to advise that it has signed sale agreements for the following noncore businesses;
-
New Zealand Footwear (Hannahs and Number 1 Shoes)
-
Contract Resources (excluding North America)
-
Contract Resources (North America)
The sales are subject to customary completion conditions. The transactions are expected to be completed during October 2017.
The remaining non-core business, TBS, based in New Zealand, is proceeding through a divestment process.
Expected proceeds from the total sales of non-core assets are consistent with Bapcor achieving the value of “assets held for sale” as disclosed in Bapcor’s June 2017 accounts of NZ$92m.
Further details will be provided following completion of the group of transactions.
-Ends
For further information, please contact:
Gregory Fox
Darryl Abotomey Gregory Fox Managing Director and CEO Chief Financial Officer and Company Secretary +61 419 838 059 +61 417 562 891 +61 3 9914 5555 +61 3 9914 5555
==> picture [595 x 60] intentionally omitted <==