Tatts Group Limited
(ASX:TTS) has announced it has sold its interest in Talarius Limited, its UK based slots business, to Novomatic UK Limited.
Tatts’will net £111M from the sale, and will use the proceeds to repay existing British Pound denominated debt facilities.
The divestment will result in an accounting loss in Tatts’FY16 results of around AU$50M.
Tatts Group does not expect the sale of Talarius to have any material impact on continuing earnings per share for the group and is maintaining its current dividend policy and payment due date of October 2016.
Tatts Group Limited reported a net profit of $147 million at 31 December 2015.
