Aug 18 (Reuters) - Nine Entertainment Co Holdings Ltd NEC.AX :
* Sale of willoughby site NEC.AX
* Says signed a put and call option agreement to sell its Willoughby, Sydney site for $147.5M
* Says net cash proceeds after tax are expected to be around $135M
* Sale to complete in 2 years after which Nine will be able to remain on site, under lease, for 3 years, following which it will re-locate
* Source text for Eikon ID:nASX7s7961