Vicinity Centres Reported on Acquisition & Divestment

  • Dec 23, 2019 AEDT
  • Team Kalkine

Vicinity Centres (ASX: VCX) has announced that it agreed to acquire 50% interest in Uni Hill Factory Outlets in Victoria. It has also reported the divestments of its 50% interest in Lennox Village in New South Wales.

  • Stake in Uni Hill Factory Outlets would be acquired for $67.8 million from MAB Corporation.
  • Lennox Village would be sold at book value as on 30 June 2019 of $31.5 million to Challenger.
  • The acquisition of Uni Hill is subject to ACCC approval, and VCX expects to report FY20 interim results on 19 February 2020.

By 1:12 PM AEDT, VCX was trading at $2.58, up by 0.38% from the previous close.

 

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