VIVA Energy (ASX:VEA) sells stake in its petrol station property trust
VIVA Energy (ASX:VEA) has sold its 35.5 per cent security holding in Viva Energy REIT by way of a fully underwritten block trade, and a sale to each of the Charter Hall Group (ASX:CHC) and the Charter Hall Long WALE REIT (ASX:CLW).
A 25.5 per cent interest in VVR was sold through the underwritten trade, and a 5 percent interest was sold to each of CHC and CLW.
Following completion of those transactions, the Company will receive $2.66 per VVR security, being a total of $734.3 million, and an estimated $112.9 million pre-tax profit on the sales.
The sales are expected to settle during the next week.
Shares in VIVA Energy (ASX:VIV) are trading 5 per cent higher at $1.88.
Copyright 2020 – Finance News Network
Source: Finance News Network
