STONEMOR INC. COMPLETES SALE OF OLIVET MEMORIAL PARK IN COLMA, CALIFORNIA
StoneMor Inc. (STON)
US:NYSE Investor Relations:
stonemor.com/investors/default.aspx
Company Research
Source: GlobeNewswire
TREVOSE, Pa., April 10, 2020 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON), a leading owner and operator of cemeteries and funeral homes, today announced it has completed the previously announced sale of the assets of Olivet Memorial Park, Olivet Funeral and Cremation Services and Olivet Memorial Park and Crematory (“Olivet”) located in Colma, California, to Cypress Lawn Cemetery Association for a total net purchase price of $41.4 million – $24.3 million in cash, subject to certain additional adjustments, plus $17.1 million in assumption of lot takedown obligations. StoneMor previously announced that it had signed a separate definitive agreement to sell the assets of its remaining California locations to entities owned by John Yeatman and Guy Saxton for a total purchase price of $7.1 million in cash, subject to certain closing adjustments. The locations included in that transaction are Melrose Abbey Memorial Park and Melrose Abbey Mortuary in Anaheim, California, LaVerne Cemete
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