October 31, 2017 / 7:16 AM / 20 days ago

BRIEF-Carillion announces disposals worth 13.8 mln stg

Oct 31 (Reuters) - CARILLION PLC:

* DISPOSAL

* ‍13.8 MILLION STG DISPOSAL OF INTERESTS IN ASK REAL ESTATE​

* ‍DISPOSAL OF 66.67 PCT SHAREHOLDING IN ASK REAL ESTATE, SHAREHOLDER LOAN MADE BY CARILLION CONSTRUCTION TO AREL‘S SUBSIDIARY, ASK CENTRAL LIMITED​

* DISPOSAL OF 50 PCT INTEREST IN ASK CARILLION DEVELOPMENTS LLP​

* ‍DISPOSAL TO ONE OR MORE WHOLLY OWNED SUBSIDIARIES OF DUKEHILL LIMITED, FOR AGGREGATE CASH CONSIDERATION OF 13,800,000 STG​

* ‍AREL MANAGING DIRECTOR, JOHN HUGHES AND FINANCE DIRECTOR, JONATHAN CROSS, WHO TOGETHER OWN 33.33 PCT OF AREL, WILL RETAIN THEIR EXECUTIVE POSITIONS​

* ‍TRANSACTION CONSIDERATION WILL BE APPLIED IN REDUCING GROUP‘S OVERALL LEVERAGE POSITION​

* ‍TRANSACTION IS EXPECTED TO GENERATE A MODEST PROFIT ON DISPOSAL

* ‍INTERESTS BEING SOLD WERE NOT EXPECTED TO MAKE A MATERIAL CONTRIBUTION TO OVERALL GROUP PROFIT FOR 2017​ Source text for Eikon: Further company coverage:

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