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Moelis Australia to buy stake in shopping centre for $462.2 mln

Published 08/11/2019, 08:46 am
Updated 08/11/2019, 08:49 am
© Reuters.  Moelis Australia to buy stake in shopping centre for $462.2 mln

Nov 8 (Reuters) - Investment bank Moelis Australia MOE.AX said on Friday it will buy a 50% stake in Westfield Marion Shopping Centre in South Australia for A$670 million ($462.23 million).

The company said that its funds under management will be about A$4.7 billion after the acquisition, growing about A$1 billion since 2018 December end.

The shopping centre has a moving annual turnover of A$846 million, the company said in a statement. ($1 = 1.4495 Australian dollars)

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