Brief: Serial System Says Co To Sell Stake In Australian Laundry Business
12/09/2018 01:46
Sept 12 (Reuters) - Serial System Ltd SERL.SI :
* TO SELL STAKE IN AUSTRALIAN LAUNDRY BUSINESS FOR US$31.2
MILLION
* EXPECTS TO RECOGNISE A GAIN OF US$20.0 MILLION FROM SALE
OF ITS
ENTIRE 27.34% STAKE IN SPL HOLDINGS
* WILL RECEIVE US$31.2 MILLION IN NET PROCEEDS FROM SALE
* COMPANY WILL USE ABOUT 40% OF PROCEEDS TO REPAY BANK LOANS
* WILL USE PART OF PROCEEDS TO ISSUE A SPECIAL DIVIDEND TO
SHAREHOLDERS
Source text for Eikon: urn:newsml:reuters.com:*:nSNZ7rY5m5
Further company coverage: SERL.SI
((Reuters.Briefs@thomsonreuters.com;))
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