By Chris Hutching
Friday 28th July 2000 |
Text too small? |
According to chief financial officer Ian Lewington, the terms of the $161 million consideration for the Britz deal provided for payments from warranties. As a result, the $12 million adjustment was made after negotiations with the vendors of Britz in favour of Tourism Holdings.
Mr Lewington said the money would be used to reduce Tourism Holdings' debt of around $97 million.
"We'll probably be looking at about a 50% equity ratio after this, so it's pretty healthy."
Tourism Holdings will upgrade its Maui and Britz campervan fleet with 225 Mercedes vans worth $A13.9 million.
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens