March 5 (Reuters) - Coles Group Ltd COL.AX :
* ENTER INTO INCORPORATED JOINT VENTURE IN RESPECT OF COLES' HOTELS AND QUEENSLAND RETAIL LIQUOR BUSINESS
* WILL RECEIVE CASH CONSIDERATION OF APPROXIMATELY $200 MILLION AT COMPLETION
* ESTABLISHMENT OF QUEENSLAND VENUE CO, JV COMPANY IN WHICH COLES AND AVC WILL OWN AN EQUAL NUMBER OF SHARES
* UNDER JV, AVC WILL MANAGE DAY-TO-DAY OPERATIONS OF SPIRIT HOTELS AND WILL RECEIVE ECONOMIC BENEFIT OF THIS BUSINESS
* ON COMPLETION, COLES TO RECEIVE PROCEEDS OF ABOUT $200 MILLION WHICH IS EXPECTED TO RESULT IN ASSOCIATED BOOK LOSS ON SALE OF ABOUT $20 MILLION
* ENTERED INCORPORATED JOINT VENTURE WITH AUSTRALIAN VENUE CO IN RELATION TO COLES' HOTELS BUSINESS, SPIRIT HOTELS