UST sells headquarters for $130M |
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Fri, 02 Feb 2007 15:36
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GREENWICH, Conn. (AFX) - UST Inc., the U.S. Smokeless Tobacco Co. holding company, on Friday said it agreed to sell its Greenwich, Conn.-based headquarters to Antares Investment Partners LLC for $130 million.Net proceeds are expected to help earnings by about $62 million, or 39 cents per share, for the year.UST will also get $85 million in net cash.UST will remain in its old headquarters until the new location until Sept. 7 when it moves into its new Stamford, Conn., headquarters.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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