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BRIEF-GPS Alliance unit to restructure and spin-off part of real estate agency business

Published 21/07/2015, 10:14 am
© Reuters. BRIEF-GPS Alliance unit to restructure and spin-off part of real estate agency business

July 21 (Reuters) - GPS Alliance Holdings Ltd GPS.AX :

* GPS to spin-off part of its real estate business GPS.AX

* Says total consideration payable by apsi on completion is s$2.8 million

* Unit global property strategic alliance with more property entered into a conditional sale and purchase agreement

* Says GPSA proportion of the consideration is S$910,000 in cash

* The disposal of GA improves the financial position of GPS

* Says unit with more property entered into conditional sale and purchase agreement with Asia-pacific strategic investments limited

* Disposal is expected to have a positive return to the group

* Says the agreement can be extended by another 24 months under certain conditions

* Says disposal expected to have a positive return to the group in the form of an expected financial gain

* Says disposal expected to improve group's short-terms profitability

* Source text for Eikon ID:nASX2HSGnN

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