GROUP-5:  89   0 (0.00%)  18/08/2019 00:00

Group Five To Sell Some Assets For ZAR480 Mln

Jan 17 (Reuters) - Group Five Ltd:

* DISPOSAL BY GROUP FIVE AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

* ENTERED INTO BINDING OFFER TO DISPOSE OF ASSETS OF EVERITE PROPRIETARY LIMITED AND ITS SUBSIDIARIES AND SKY SANDS PROPRIETARY LIMITED

* PROPOSED DEAL FOR ZAR480 MILLION

* CONSIDERATION EXCLUDES ONE REMAINING ASSET IN MANUFACTURING CLUSTER, REINFORCING STEEL BUSINESS BARNES REINFORCING INDUSTRIES

* TO DISPOSE SOME ASSETS TO CONSORTIUM OF TRINITAS PRIVATE EQUITY & AGILE CAPITAL

* STILL IN PROCESS OF CONSIDERING EXPRESSIONS OF INTEREST FOR VARIOUS PART OF GROUP'S BUSINESS

* MANUFACTURING ASSETS SOLD WILL BE UTILISED TO REDUCE GROUP'S INDEBTEDNESS Source text for Eikon: Further company coverage:

2019-01-17 15:29:56

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