January 11, 2017 / 10:33 PM / 3 years ago

BRIEF-Alaris Royalty Corp announces proposed transaction with sequel, provides corporate update

Jan 11 (Reuters) - Alaris Royalty Corp :

* Alaris royalty corp. Announces a proposed transaction with sequel and provides a corporate update

* Alaris royalty-it is proposed that co to get cash distribution of usd$30 million from sequel as well as retain usd$62.2 million of preferred equity in sequel

* It is also proposed that alaris will receive a continuing annual distribution of usd$6.2 million

* Alaris royalty - proposed co will receive continuing annual distribution of $6.2 million representing 14.2% yield on alaris’ remaining cost base in sequel

* Alaris royalty - co’s units in sequel can be repurchased for usd$62.2 million subject to annual increase of 3% starting 42 months from closing date of transaction

* Alaris royalty - subsequent to management changes, significant costs reductions at kimco holdings co continues to work with kimco on a long-term plan

* Alaris royalty - net results of tuesday’s updates, excluding proposed sequel deal, is slight increase to cash flow guidance provided on nov 8, 2016 Source text for Eikon: Further company coverage:

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