November 11, 2016 / 1:22 AM / a year ago

BRIEF-Cervus Equipment reaches agreement for sale and lease-back of real estate portfolio

Nov 10 (Reuters) - Cervus Equipment Corp :

* Cervus reaches agreement for sale and lease-back of real estate portfolio

* Cervus Equipment -entered into definitive agreement with single purchaser for long-term sale and leaseback of about $55.7 million of real estate currently owned by co

* Anticipates sale and leaseback transaction will result in a gain on sale between $3 million to $4 million

* After retiring mortgages associated with properties expects net free cash flow of approximately $27 million Source text for Eikon: Further company coverage:

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