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BVT - The Bidvest Group Limited - Partial sale of investment in Mumbai

Release Date: 04/03/2011 07:05
Code(s): BVT
Wrap Text

BVT - The Bidvest Group Limited - Partial sale of investment in Mumbai International Airport Private Limited THE BIDVEST GROUP LIMITED ("Bidvest") (Registration number 1946/021180/06) Share code: BVT ISIN ZAE000117321 PARTIAL SALE OF INVESTMENT IN MUMBAI INTERNATIONAL AIRPORT PRIVATE LIMITED Further to the announcement released on Sens on March 3 2011 Bidvest advises that it anticipates a positive impact of between R300m and R400m on the headline earnings of the group as a consequence of the sale. This forecast is based on the following assumptions: The estimated funding costs, transaction costs and the carrying amount of the investment to date. In the interim results for the six months to December 31 2010, released on Monday 28 February 2011, Bidvest achieved headline earnings per share of 539.8 (2009: 495.0) cents. The agreement is subject to a number conditions as well as regulatory and other approvals. Further announcements regarding the conclusion of the transaction will be made in due course. Date: March 4 2011 Johannesburg Sponsor: Investec Date: 04/03/2011 07:05:16 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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