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8 months ago
BRIEF-Ardent Leisure Group sells D'albora Marinas
December 12, 2016 / 1:36 AM / 8 months ago

BRIEF-Ardent Leisure Group sells D'albora Marinas

Dec 12 (Reuters) - Ardent Leisure Group

* Ardent Leisure sells D'albora Marinas

* D'albora Marinas portfolio comprises seven high profile marinas located in premium locations

* After an open expression of interest sale process, group has agreed to sell D'albora Marinas business for a sale price of $126 million

* "Agreed sale price of $126 million represents a premium to current book value and will improve balance sheet capacity of group"

* Successful conclusion of sales process for D'albora Marinas portfolio

* Sale price represents an 11.0% premium over current book value of $113.5 million

* Completion of transaction is expected to occur before 30 June 2017

* Sale process incurred transaction costs of $3.3 million and commitment to complete $5.6 million of capital expenditure projects Source text for Eikon: Further company coverage:

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