Brief: Aurizon Announces Sale Agreement For East Coast Rail

Aurizon Holdings

15/12/2022 21:27

Dec 16 (Reuters) - Aurizon Holdings Ltd  AZJ.AX :
    * ANNOUNCES SALE AGREEMENT FOR EAST COAST RAIL
    * WILL RECEIVE CASH PROCEEDS OF APPROXIMATELY A$425 MILLION
FROM
SALE
    * WILL RECEIVE CASH PROCEEDS OF APPROXIMATELY A$425 MILLION
WHICH
REPRESENTS EQUITY VALUE OF ECR
    * SIGNED A BINDING SALE AGREEMENT WITH MAGNETIC RAIL GROUP
PTY FOR
SALE
    * NO CAPITAL GAINS TAX IS EXPECTED AND COMPLETION IS
TARGETED FOR
EARLY 2023
    * POSITIVE EARNINGS CONTRIBUTION FROM ECR FOR FY23 IS
EXPECTED TO
BE MORE THAN OFFSET BY TRANSACTION COSTS

Source text for Eikon:  ID:nASX4kmLCm 
Further company coverage:  AZJ.AX 
 ((Reuters.Briefs@thomsonreuters.com;))