Brief: Arvida Group to acquire three villages for NZ$106 mln

Arvida

11/09/2017 21:31

Sept 12 (Reuters) - Arvida Group Ltd  ARV.NZ  
    * Arvida to acquire three villages for $106 million 
    * Acquisitions will add $9m of underlying profit and be 8% 
accretive to underlying earnings per share 
    * Further earnings are expected beyond fy18 from future 
developments at village at park and mary doyle 
    * The villages are being acquired from Hurst Lifecare and 
associated parties 
    * Acquisitions and transaction costs are to be funded 
through a combination of new equity and debt 
    * $77m of new equity to be raised by way a 1-for-5 pro-rata 
renounceable rights issue at an issue price of $1.15 per share 
    * All figures in NZ$ 
 
Source text for Eikon:  ID:nNZW9zJdPL  
Further company coverage:  ARV.NZ  
 
 ((Bangalore.newsroom@thomsonreuters.com;))