WILLEMSTAD, Curacao, June 25, 2015 /PRNewswire/ --
Retail Holdings N.V. (Symbol: RHDGF)
Retail Holdings N.V. ("Retail Holdings", together with its subsidiaries and affiliates, the "Company"), announced today, that as part of a streamlining of its ownership interests and operations in Sri Lanka, previously carried on through four separate public companies, the Company has sold its entire 83.6% equity stake in Singer Industries (Ceylon) PLC and its entire 58.3% equity stake in Regnis (Lanka) PLC to Singer (Sri Lanka) PLC, which is 86.1% owned by the Company. The sale is subject to regulatory approval. There is no profit or loss from the sale; the net after tax cash consideration will be approximately $10.5 million, 54.1% of which is attributable to Retail Holdings' shareholders. No decision has yet been made as to the use of proceeds.
Additional financial and other information about the Company may be found at the Corporate/Investor section of the Company's website: www.retailholdings.com. Price quotations for the Company's Shares are available on the "Pink Sheets" quotation service under the symbol "RHDGF".
For further information, contact Amy Pappas at (914) 241-3404.
SOURCE Retail Holdings N.V.