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AUB Group Announces Completion of Sale of Altius Group to the Riverside Company

31 Mar 2021  |  14:02:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Completion of sale of Altius Group to The Riverside Company

AUB Group announced that the Company had completed the sale of its total shareholding in Altius Group Holdings (Altius) to The Riverside Company. The Company had received cash proceeds of $57m (this number was net of tax, transaction and other relevant costs and included the Company's entitlement to pre-disposal dividends for profits recognised up to the date of sale). The sale will result in a post-tax profit on disposal of $10m. This amount will not be reflected in underlying net profit after tax. The impact of this transaction on FY21 performance had been factored into previous FY21 earnings guidance.

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