February 21, 2017 / 10:01 PM / 6 months ago

BRIEF-Fairfax Media says considering separation of Domain Group

Feb 22 (Reuters) - Fairfax Media Ltd :

* Consideration of Domain Group separation

* Announced a strategic review of Domain Group ("domain") in preparation for Domain's potential separation into a new fairfax controlled australian securities exchange-listed entity.

* Separation would result in Fairfax continuing to own a controlling majority of Domain (between 60% and 70%)

* Potential separation would be expected to complete this calendar year

* Current intention is that no new capital will be raised

* Separately asx-listed entity establishing direct valuation for domain

* Based on preliminary estimates, costs, adjustments are expected to be approximately $8 million to $10 million per annum

* Domain Group CEO Antony Catalano will continue to lead management team

* Macquarie Capital has been appointed to advise on proposed transaction

* Post separation, Domain will incur a number of costs and adjustments not currently reflected in its segment financials Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below