Information  X 
Enter a valid email address

Caledonia Inv PLC (CLDN)

  Print      Mail a friend       Annual reports

Friday 16 July, 2004

Caledonia Inv PLC

Sale of shares

Caledonia Investments PLC
16 July 2004

Sale of 1.3 million shares in Kerzner International Ltd

Caledonia Investments plc ('Caledonia') announces that it has agreed to sell
1.3m shares in the resorts developer and operator, Kerzner International Ltd 
('KI'), at a price of $47.5 per share.

At today's exchange rates, the value of the KI shares to be sold by Caledonia
amounts to £33.3m and, upon satisfaction of the closing conditions which it is
hoped will be by no later than the end of August, the proceeds from the sale
will be used for general corporate purposes, including the repayment of
Caledonia's existing bank borrowings. The KI shares to be sold were held in
Caledonia's balance sheet at 31 March 2004 at a value of £32.2m.

Following completion of the sale, Caledonia will retain a stake of approximately
13 per cent in KI's share capital.

                                                                    16 July 2004


Caledonia Investments
    Tim Ingram, Chief Executive                  020 7802 8080
    Jonathan Cartwright, Finance Director

College Hill
    Tony Friend                                  020 7457 2020
    Richard Pearson

                      This information is provided by RNS
            The company news service from the London Stock Exchange