Sol Hotel (Australia) Pty Ltd’s acquisition of Sheraton Hotels

WRITTEN QUESTIONS
8th Assembly

28/10/1997

2. Sol Hotel (Australia) Pty Ltd’s acquisition of Sheraton Hotels

Mr. BAILEY to for TREASURER


QUESTION

1. Did the Ludvik Berger-controlled company, Sol Hotels (Australia) Pty Limited, acquire the two Sheraton Hotels by buying shares in the Northern Territory Government-owned company, Darwin International Hotels.

2. What was the value of the total accumulated tax losses of Darwin International Hotels at the time of sale to Sol Hotels (Australia) Pty Limited.

3. Was the net value of tax losses to Ludvik Berger as a tax deduction greater than the $22.2 million purchase price for the two hotels.

ANSWER

Answered on 28/04/98

1, 2 and 3 - The parts of this question are closely related and I have dealt with them together. I am not in a position to answer the Question, as it requires knowledge of the commercially confidential circumstances of a private company whose financial records are not publicly available.