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BRIEF-Cabcharge Australia updates on CDC sale

Published 06/02/2017, 04:42 pm
Updated 06/02/2017, 04:50 pm
© Reuters.  BRIEF-Cabcharge Australia updates on CDC sale

Feb 6 (Reuters) - Cabcharge Australia Ltd CAB.AX :

* Confirms sale of its 49% equity interest in CDC is progressing to anticipated completion in late February

* Cabcharge has recognised a $20.7 million impairment charge on its 49% stake in Cityfleet Network UK

* Anticipates receiving net proceeds of $184 million after final capital gains tax assessment, transaction costs and repayment of loan 1

* Cabcharge will recognise impairment charges of $7.9 million relating to its portfolio of taxi licence plates

* Intends to distribute a majority of net proceeds to shareholders

* Cabcharge is anticipating a capital gains tax expense of $18.8 million Source text for Eikon: ID:nASX4R3VYj Further company coverage: CAB.AX

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