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The latest announcement is out from Elanor Investors Group ( (AU:ENN) ).
Elanor Investors Group is actively working on stabilizing its business through a strategic asset realization program, which includes selling assets to reduce debt and simplify its capital structure. The company has already transacted $225 million in assets and is in the process of selling additional assets valued over $250 million. The proceeds from these sales are intended to repay debts and return capital to investors. Elanor is also negotiating terms with its financiers to ensure compliance with financial covenants, while continuing to manage the commercial real estate portfolio acquired from Challenger. The group aims to finalize its financial statements and potentially resume trading on the ASX, although challenges remain regarding its going concern status.
More about Elanor Investors Group
Elanor Investors Group is involved in the investment management industry, focusing on real estate assets. The company manages a variety of funds, including property and hotel accommodation funds, and has recently acquired Challenger’s Australian real estate funds management business, enhancing its portfolio in commercial real estate.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$121.7M
For a thorough assessment of ENN stock, go to TipRanks’ Stock Analysis page.