Abano Healthcare Group Limited (NZX:ABA) has confirmed settlement of the $32
million sale of its 50% shareholding in Bay International Limited to its
joint venture partner, being interests associated with Peter Hutson.
The one off gain on book value of approximately $20 million will be included
in the 2016 full year results. Proceeds from the sale will be used to retire
debt and to fund the continuing growth of Abano''s dental networks, Lumino The
Dentists in New Zealand and Maven Dental Group in Australia.
CEO of Abano, Richard Keys, said: "Our investment focus continues to be on
the $11 billion revenue trans-Tasman dental industry and the growth of our
dental networks in New Zealand and Australia, as well as our radiology
business in Auckland."
ENDS
End CA:00284257 For:ABA Type:ASSET Time:2016-06-17 14:51:31