Redcape Hotel Group Provides Business Updates; Acquisitions & Divestments

  • Dec 16, 2019 AEDT
  • Team Kalkine

Redcape Hotel Group (ASX: RDC) has provided update on operating performance, acquisition and divestment. Due to strong performance of the business, RDC has reaffirmed distributable earnings guidance for FY20.

  • Contracts are in place to divest a hotel in Sydney for $51 million, equating to a 6.25 per cent premium to book value.
  • RDC is set to acquire Kings Head Tavern and South Hurstville for $27 million.
  • Subject to customary condition, the completion of both transactions is expected to be completed by March 2020.

By 1:59 AEDT, RDC was trading at $1.115, up by 0.45 per cent from the previous close.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK