28.08.2014

Tutt Bryant property deal off

The deal to sell and lease back of five of Tutt Bryant’s premises in Australia has fallen through See Tat Hong sells Australian premises

The deal, agreed with TransLinQ Income in early July was worth A$30 million ($28 million) which was to be used to reduce corporate debt. The announcement simply states that the deal failed during due diligence.
The company says that it is in discussions with other interested parties and will make a further announcement should any of the current discussions reach a definitive agreement.