skip to content

Other

Hansteen forward currency contract

21 March 2017 08:46

Hansteen has agreed a forward currency contract to hedge the majority of the increase in net cash following the sale of German and Dutch portfolios.

Hansteen has agreed to dispose of the portfolios for €1.28bn.

This, it said, would result in an increase in net cash for the company of approximately €750 million following completion of the transaction, expected in June.

Hansteen said that in order to hedge the majority of this increase, after taking into account the group's ongoing requirements for euros to satisfy certain euro liabilities, the company had entered into a forward currency transaction to sell Hansteen 580 million for £503,053,011.38 at £:€1.15296, with a maturity date of 8 June 2017.

At 8:46am: (LON:HSTN) Hansteen Holdings PLC share price was +0.3p at 123.3p

Story provided by StockMarketWire.com

Related Company: HSTN

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.