Brief: Arvida Group To Buy Portfolio Of Premium Villages For NZ$180 Mln

Arvida

24/06/2019 22:10

June 25 (Reuters) - Arvida Group Ltd  ARV.NZ :
    * ARVIDA TO ACQUIRE PORTFOLIO OF PREMIUM VILLAGES FOR $180M
    * DEAL IMMEDIATELY ACCRETIVE TO UNDERLYING EARNINGS PER
SHARE
    * SEES DEAL TO ADD $15.8 MILLION OF UNDERLYING PROFIT ON A
PRO
FORMA BASIS IN FY20 & $19.4 MILLION OF UNDERLYING PROFIT IN FY21
    * CONSIDERATION FOR ACQUISITION AND TRANSACTION COSTS TO BE
FUNDED
THROUGH COMBINATION OF NEW EQUITY AND DEBT
    * ARVIDA GROUP ANNOUNCES $50 MILLION PLACEMENT AT $1.25 PER
SHARE;
$92 MILLION PRO-RATA RENOUNCEABLE RIGHTS ISSUE AT ISSUE PRICE OF
$1.15 PER SHARE
    * TARGET ANNUAL BUILD RATE FROM FY21 AND BEYOND WILL
INCREASE TO
250+ UNITS
    * ALL FIGURES IN NZ$

Source text for Eikon:  ID:nNZShd6a 
Further company coverage:  ARV.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))