WILLEMSTAD, Curacao,
June 25, 2015 /PRNewswire/ --
Retail Holdings N.V. (Symbol: RHDGF)
Retail Holdings N.V. ("Retail Holdings", together with its
subsidiaries and affiliates, the "Company"), announced today, that
as part of a streamlining of its ownership interests and operations
in Sri Lanka, previously carried
on through four separate public companies, the Company has sold its
entire 83.6% equity stake in Singer Industries (Ceylon) PLC and its
entire 58.3% equity stake in Regnis (Lanka) PLC to Singer
(Sri Lanka) PLC, which is 86.1%
owned by the Company. The sale is subject to regulatory approval.
There is no profit or loss from the sale; the net after tax cash
consideration will be approximately $10.5
million, 54.1% of which is attributable to Retail Holdings'
shareholders. No decision has yet been made as to the use of
proceeds.
Additional financial and other information about the Company may
be found at the Corporate/Investor section of the Company's
website: www.retailholdings.com. Price quotations for the
Company's Shares are available on the "Pink Sheets" quotation
service under the symbol "RHDGF".
For further information, contact Amy
Pappas at (914) 241-3404.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/retail-holdings-nv-announces-sri-lanka-restructuring-300104940.html
SOURCE Retail Holdings N.V.