[ET Net News Agency, 16 June 2021] Far East Consortium International Limited (00035)
said its subsidiary has agreed to sell the entire issued share capital of DCLL and the
entire issued share capital of Elite for the aggregate consideration of GBP115 million,
less the bank loan amount and the shareholder loan amount, and subject to completion
adjustments.
On completion, the purchaser shall procure (i) the repayment by Elite to the lender
under the bank facility of an amount in cash equal to the bank loan amount less any
deductions or withholdings for or on account of tax that are required by applicable law,
and (ii) the repayment by Elite to Mazuma of an amount in cash equal to the shareholder
loan amount less any withholdings for or on account of tax that are required by applicable
law.
Elite is a property holding company. It is the current owner of the Dorsett City London
Hotel. DCLL currently operates the Dorsett City London Hotel. (RC)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00035 FE CONSORT INTL
Nominal 
1.100 0.000 (0.000%) Others
16/06/2021 14:33
FE Consort (00035) to sell Dorsett City London Hotel
| Remark: | Real time quote last updated: 26/09/2024 10:25 |
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