TSX:TWC - Post Discussion
Post by
undervalue on May 17, 2022 12:48pm
Islemere sold.
This trade was long anticipated. It is a fair value given the issues with the light rail project delays, and the insistance by Laval that the development plan be co ordinated with the adjacent gold course land assembly.
Ho hum, another 30 million. Purchase price in 2007 was 9 million for 49.%
Over 15 years a solid, but not earth shattering return 0f 8.3% pa.
I have no idea of the annual cash flow from operations, so return should be some amount higher.
TWC ENTERPRISES LIMITED ANNOUNCES TRANSACTION INVOLVING CLUB DE GOLF ISLESMERE
TWC Enterprises Ltd. has arranged a transaction involving Club de Golf Islesmere located in Laval, Que.
Together with its partner, TWC has reached an agreement to sell the property to a Quebec developer for proceeds of approximately $70-million. TWC is entitled to approximately 45 per cent of these proceeds upon closing.
This transaction is subject to both a due diligence condition and a condition for a change in zoning.
Closing of this transaction is not anticipated before 2023.
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