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News: CHC Ampol Says Consortium To Acquire A 49% Interest In 203 Freehold Sites

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

    • 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
 
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