Feb 22 (Reuters) - Fairfax Media Ltd (FXJ) :
- Consideration of Domain Group separation
- Announced a strategic review of Domain Group ("domain") in preparation for Domain's potential separation into a new fairfax controlled australian securities exchange-listed entity.
- Separation would result in Fairfax continuing to own a controlling majority of Domain (between 60% and 70%)
- Potential separation would be expected to complete this calendar year
- Current intention is that no new capital will be raised
- Separately asx-listed entity establishing direct valuation for domain
- Based on preliminary estimates, costs, adjustments are expected to be approximately $8 million to $10 million per annum
- Domain Group CEO Antony Catalano will continue to lead management team
- Macquarie Capital has been appointed to advise on proposed transaction
- Post separation, Domain will incur a number of costs and adjustments not currently reflected in its segment financials
