other material
confidence high
sentiment positive
materiality 0.60
AFG to sell Charleston Harbor Resort & Marina; expects ~$100M after-tax gain
AMERICAN FINANCIAL GROUP INC
- After-tax gain of ~$100M ($1.20 per share) expected on the sale.
- Agreements include a 60-day due diligence period; each buyer can terminate solely.
- Transaction expected to close in Q2 or Q3 2025, subject to conditions.
- Asset includes two hotels, a 459-slip marina, restaurant, and retail store.
- AFG first acquired the property in 2002 and invested significantly since then.