BVT - The Bidvest Group Limited - Partial sale of investment in Mumbai
BVT
BVT
BVT - The Bidvest Group Limited - Partial sale of investment in Mumbai
International Airport Private Limited
THE BIDVEST GROUP LIMITED
("Bidvest")
(Registration number 1946/021180/06)
Share code: BVT ISIN ZAE000117321
PARTIAL SALE OF INVESTMENT IN MUMBAI INTERNATIONAL AIRPORT PRIVATE LIMITED
Further to the announcement released on Sens on March 3 2011 Bidvest advises
that it anticipates a positive impact of between R300m and R400m on the headline
earnings of the group as a consequence of the sale. This forecast is based on
the following assumptions: The estimated funding costs, transaction costs and
the carrying amount of the investment to date. In the interim results for the
six months to December 31 2010, released on Monday 28 February 2011, Bidvest
achieved headline earnings per share of 539.8 (2009: 495.0) cents.
The agreement is subject to a number conditions as well as regulatory and other
approvals. Further announcements regarding the conclusion of the transaction
will be made in due course.
Date: March 4 2011
Johannesburg
Sponsor: Investec
Date: 04/03/2011 07:05:16 Produced by the JSE SENS Department.
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