Australia's Silver Chef rises on sale of hospitality business

Siv Capital

30/09/2019 05:30

** Shares of Silver Chef Ltd  SIV.AX  rise as much as 2.2%
to A$0.705, their highest since Sept. 23 
    ** Restaurant equipment lender announces that Next Capital
will acquire its hospitality business by for A$18.25 mln ($12.33
mln) urn:newsml:reuters.com:*:nASXb3HJky
    ** Silver Chef's financiers have granted an extension to
existing waivers until Nov. 30 to implement proposed transaction
    ** Co, however, adds that if negotiations are unsuccessful
there is uncertainty whether it will be able to continue as a
going concern
    ** Stock extends gains for fourth consecutive session; is
down 72% this year, as of last close


($1 = 1.4802 Australian dollars)

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com;))