Brief: ITC Properties Group Announces Disposal Of Keen Step Corp & Le Petit Rosedale Hotel

ITC Neocloud

25/08/2020 15:38

Aug 25 (Reuters) - ITC Properties Group Ltd  0199.HK :
    * ITC PROPERTIES GROUP ANNOUNCES DISPOSAL OF KEEN STEP CORP
AND LE
PETIT ROSEDALE HOTEL
    * DEAL FOR HK$460.0 MILLION
    * UNIT TO TO SELL SHARES OF & LOAN OWED BY KEEN STEP LIMITED
AND
LE PETIT ROSEDALE HOTEL TO BON REN INVESTMENT
    * SEES UNAUDITED CAPITAL GAIN OF HK$110.0 MILLION FROM
DISPOSAL IN
CONSOL FY ENDING 31 MARCH 2021
    * DISPOSAL WILL GENERATE A NET CASH RETURN OF ABOUT HK$154.3
MILLION TO GROUP AFTER REPAYMENT OF BANK LOAN

Source text for Eikon:  urn:newsml:reuters.com:*:nHKSjN4Zq
Further company coverage:  0199.HK 

 (Reuters.Briefs@thomsonreuters.com)