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BRIEF-Arvida Group to acquire three villages for NZ$106 mln
September 11, 2017 / 10:33 PM / 3 months ago

BRIEF-Arvida Group to acquire three villages for NZ$106 mln

Sept 12 (Reuters) - Arvida Group Ltd

* Arvida to acquire three villages for $106 million

* Acquisitions will add $9m of underlying profit and be 8% accretive to underlying earnings per share

* Further earnings are expected beyond fy18 from future developments at village at park and mary doyle

* The villages are being acquired from Hurst Lifecare and associated parties

* Acquisitions and transaction costs are to be funded through a combination of new equity and debt

* $77m of new equity to be raised by way a 1-for-5 pro-rata renounceable rights issue at an issue price of $1.15 per share

* All figures in NZ$ Source text for Eikon: Further company coverage:

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