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BRIEF-Ampol Says Consortium To Acquire A 49% Interest In 203 Freehold Sites

Stock Markets Aug 17, 2020 10:00
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© Reuters.

Aug 17 (Reuters) - Ampol Ltd ALD.AX :

* ASX ALERT-CONSORTIUM TO ACQUIRE A 49% INTEREST IN 203 FREEHOLD SITES-ALD.AX

* ANNOUNCES ESTABLISHMENT OF AN UNLISTED PROPERTY TRUST THAT WILL OWN 203 CORE FREEHOLD CONVENIENCE RETAIL SITES

* CHARTER HALL AND GIC CONSORTIUM WILL ACQUIRE A 49% MINORITY INTEREST IN PROPERTY TRUST FOR $682 MILLION

* PROPERTY TRUST WILL RECEIVE ABOUT $77 MILLION IN RENTAL PAYMENTS FROM AMPOL IN FIRST YEAR

* EXPECTS TO RECEIVE NET PROCEEDS OF ABOUT $612 MILLION AFTER TAXES FROM DEAL

* ALL SITES HELD WITHIN PROPERTY TRUST WILL BE LEASED BACK TO AMPOL UNDER LONG-TERM TRIPLE NET LEASE ARRANGEMENTS

* TRANSACTION EXPECTED TO COMPLETE BY END OF 2020

* ON DEAL CLOSE , CO TO HOLD 51% CONTROLLING INTEREST IN PROPERTY TRUST; MAINTAIN STRATEGIC,OPERATIONAL CONTROL OF CORE CONVENIENCE RETAIL SITES

BRIEF-Ampol Says Consortium To Acquire A 49% Interest In 203 Freehold Sites
 

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