BRIEF-Sun International says to acquire Novomatic's 44.2 pct stake in Monticello

miércoles 2 de julio de 2014 02:39 GYT

July 2 (Reuters) - Sun International Ltd :

* On 30 June 2014, reached agreement to acquire Novomatic's 44.2 pct effective interest in Monticello and a further 10.5 pct interest held by a minority shareholder, Chilean enterprises S.P.A

* Initial payment will be approximately $114 million (1,200 million rand)

* Will also acquire, from Novomatic, shareholder loans and cash of approximately $32 million (340 million rand)

* Sun International has extended an offer on same terms to acquire remaining 1.1 pct interest in Monticello held by LASUD CHILE S.A.

* Maximum top up payment has been capped at a level which caps enterprise value for transaction to $350 million Source text for Eikon: Further company coverage: