Steel & Tube Holdings Limited (NZX: STU) Announces Sale and Leaseback of Property

Steel & Tube Holdings Limited has signed an unconditional agreement to sell its property at 26 – 32 Hautonga St, Petone, Lower Hutt for $7 million on a sale and lease back basis.

The sale is expected to be completed on 22 March 2021.

Steel & Tube will continue to lease the property for a term of 2 years with two further rights of renewal of one year each.

The transaction has no material impact on the normalised earnings guidance provided by the Company on 17 December 2020.

See the link below for more details:

Steel & Tube Announces Sale and Leaseback of Property

Source: Steel & Tube Holdings Limited

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