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BRIEF-CBA Announces Joint Bid To Buy Property Exchange Australia

Published 06/11/2018, 09:07 am
Updated 06/11/2018, 09:10 am
© Reuters.  BRIEF-CBA Announces Joint Bid To Buy Property Exchange Australia
CBA
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Nov 6 (Reuters) - Commonwealth Bank of Australia CBA.AX :

* ANNOUNCED JOINT BID WITH LINK ADMINISTRATION HOLDINGS AND MORGAN STANLEY INFRASTRUCTURE PARTNERS INC. TO BUY PROPERTY EXCHANGE AUSTRALIA LTD

* JOINT BID TO ACQUIRE PROPERTY EXCHANGE AUSTRALIA ACCEPTED BY SHAREHOLDERS HOLDING A MAJORITY OF PEXA'S SHARES

* CBA WILL INVEST A FURTHER $50 MILLION, TOTALLING ABOUT $100 MILLION INVESTED IN PROPERTY EXCHANGE AUSTRALIA LIMITED TO DATE

* INVESTMENT WILL RESULT IN INCREASE IN OWNERSHIP STAKE FROM 13.1% TO ABOUT 16%.

* CBA SAYS JOINT BID ACCEPTED BY SHAREHOLDERS HOLDING MAJORITY OF PEXA'S SHARES Source: Further company coverage: CBA.AX

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