Brief: Cavalier Corporation Says Is In Negotiations To Sell Wool Scour Interest

Bremworth

26/09/2018 21:46

Sept 27 (Reuters) - Cavalier Corporation Ltd  CAV.NZ :
    * CAVALIER NEGOTIATING TO SELL WOOL SCOUR INTEREST TO FOCUS
ON
CORE CARPET BUSINESS
    * CAVALIER WILL RECEIVE APPROXIMATELY NZ$13.5 MILLION IN
CASH FROM
TRANSACTION
    * WILL ENTER LONG-TERM SCOURING AGREEMENT WITH CWH TO SECURE
ITS
ACCESS TO WOOL SCOURING SERVICES ON COMMERCIAL TERMS
    * SALE COMPRISES CO'S 27.5% SHAREHOLDING IN CAVALIER WOOL &
PROPERTY HELD BY 50% OWNED CWS ASSETS LEASED TO CAVALIER WOOL

Source text for Eikon:  ID:nNZW7ntpN4 
Further company coverage:  CAV.NZ 

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