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Reading International receives $27.8M final proceeds from Burwood sale

Published 12/22/2017, 08:07 AM
© Reuters.  Reading International receives $27.8M final proceeds from Burwood sale
RDI
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  • Reading International (NASDAQ:RDI) received $27.8M (AU$36.6M), net of settlement costs, as the final payment in connection with the 2014 disposition of its Burwood property in Australia.
  • This amount is in addition to the $5.9M (AU$6.5M) that the company received in May 2014 and $16.5M (AU$21.8M) in June 2017.
  • As previously disclosed, the company recorded a gain on sale of this property of $9.4M (AU$12.5M) during Q2.
  • Settlement proceeds have been utilized to reduce borrowings and for general corporate purposes.
  • Press Release
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