Charter Announces sale of part-stake in 242 Exhibition St

  • Nov 04, 2019 AEDT
  • Team Kalkine
Charter Hall Group (ASX: CHC) has announced the sale of a part stake in 242 Exhibition St, Melbourne. The company has sold a 15 per cent indirect interest in 242 Exhibition St to Charter Hall Long WALE REIT (CLW) for $63.6 million, following which it remains a part-owner in 242 Exhibition St with 1.8 per cent stake. The sale is consistent with the company’s strategy of recycling capital to support the growth of its fund along with maintaining on-going co-investment in these funds. The sale is expected to settle in December. At AEST (01:35 PM), the stock was trading higher at $11.365, up by 0.22 per cent from the previous close.

 

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