SkyCity Confirms Unconditional Sale of Commercial Properties; Shares Jump 7%

MT Newswires Live

Jul 17

SkyCity Entertainment Group (NZE:SKC, ASX:SKC) said the sale of its 99 Albert Street office building and Victoria Street investment properties has become unconditional, according to a Friday filing with the New Zealand and Australian bourses.

Mainland Capital, in partnership with Russell Property Group, has agreed to acquire the properties for NZ$74.5 million, with the transaction expected to settle on Sept. 1, the filing added.

The company's New Zealand shares jumped almost 7% in recent Friday trade.

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