Stockland acquires strategic stake in Aevum
10:09, Monday, 13 October 2008
Sydney - Monday - October 13: (RWE Aust Business News) -
Stockland (ASX:SGP) has acquired a strategic stake of 14.4 per cent in
listed retirement living operator Aevum (ASX:AVE).
The acquisition was at $1.50 a share for $26.9 million.
Stockland intends to increase its presence in the retirement
living sector.
The acquisition will be funded by debt and be EPS neutral in
FY09.
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