Brief: Broadway Industrial Group announces proposed disposal of foam plastics solutions and flow control device businesses

Broadway Industrial

22/08/2016 10:40

Aug 22 (Reuters) - Broadway Industrial Group Ltd  BRWY.SI : 
 * The proposed disposal of the foam plastics solutions and flow control device businesses of the group)  BRWY.SI  
 * Says aggregate consideration for the proposed disposal shall be s$150 million 
 * Group expects to receive at completion, gross proceeds of approximately s$136 million from disposal 
 * Co and Broadway Holdings III ltd ("purchaser")  entered into a conditional sale and purchase agreement 
 * Group intends to utilise net proceeds for repayment of part of its banking  facilities, financing of working capital 
 * Net gain attributable to the sale of the disposed businesses is s$14.4mln 
 * Agreement for the sale and disposal by co to the purchaser of the foam  plastics solutions and flow control device businesses of group 
 
 * Source text for Eikon  ID:nSNZ52HD2W  
 
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