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Frasers Centrepoint Divests 19.9% Interest In Australian Industrial Assets
Daily Bulletin | 21 September 2015
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Frasers Centrepoint’s wholly-subsidiary, Frasers Property Australia, together with Singapore’s sovereign wealth fund, GIC, have announced the divestment of their jointly owned Australian industrial assets to Ascendas REIT (A-REIT).

The jointly owned Australian industrial asset comprises 14 properties which were all developed by and are currently managed by subsidiaries of the group. In addition, GIC is concurrently selling other Australian industrial assets wholly-owned by it to certain subsidiary entities of the A-REIT.

The group’s share of the proceeds of the divestment arising from its ultimate 19.9 percent interest in the jointly owned Australian industrial assets, is approximately A$112 million and will be settled wholly in cash.

Frasers Property  1.770 -- --   
Business: Co operates as a real estate company. [FY18 Geographical] Australia (41.1%), Singapore (33.2%), Europe (14.1%), China (7.2%), others (4.4%).

Insight: May-19, 1H19 revenue grew 27% due to significant c... Read More


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