IEP enters option agreement
NZPA-Reuter California Industrial Equity (Pacific) says it has entered an option agreement with MacDonald and Goggin Inc. for the sale of shares and a hotel property in connection with its pending tender cash offer of SUSII a share for the outstanding shares of Associated
Hosts Inc. it does not already own. lEP and a subsidiary agreed to grant MacDonald an option to purchase all of the 2,486,031 Associated shares it beneficially owns for SUSII a share, subject to the sale of Associated’s Beverly Hillcrest Hotel and related assets for SUS 9 million
(SNZI3.BM) in cash. lEP, a subsidiary of Brierley Investments, said its agreement with MacDonald is subject to Associated selling the hotel back to an lEP subsidiary, in line with its original intentions in making, the Associated tender offer, begun on November 10.
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Press, 9 December 1988, Page 21
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138IEP enters option agreement Press, 9 December 1988, Page 21
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