Australia's Dexus buying remaining stake in Sydney skyscraper for $565 mln
March 12 (Reuters) - Australian real estate developer Dexus
said on Tuesday that together with an associate
property fund it will buy for A$800 million ($565.28 million)
the remaining half of Sydney's MLC Centre that it does not
Dexus and Dexus Wholesale Property Fund will each buy a 25
percent stake in the Sydney skyscraper, with Dexus funding its
share of the deal through debt and a fully underwritten offering
of A$425 million guaranteed exchangeable notes.
MLC Centre is jointly owned by Dexus and GPT Group,
according to its website. In January, GPT said it would divest
its 50 percent stake in MLC.
Dexus also said the acquisition will not impact
distributions over the 2019 financial year, and that the company
maintains its distribution guidance per security growth of 5
($1 = 1.4152 Australian dollars)
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
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