Marston's to cut debt (Il Sole 24 Ore Radiocor) - Copenhagen, 08 Jul - Marston's said that the proceeds of the sale of the stake in CMBC will be used to pay down debt and achieving its medium-term target of less than 1 billion pounds of net debt "in a significantly accelerated time frame." It noted that March 2024 pro-forma adjusted net debt was about 959 million pounds.

"The board of directors believe that the value to be achieved by the proposed transaction represents an attractive result for Marston's shareholders with the Marston's Group's interest expense to reduce by c.18 million annually versus the Board's expectations and the overall outcome earnings accretive," it added.

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(RADIOCOR) 08-07-24 08:46:10 (0123) 5 NNNN