News: GPT GPT Group Announces Plans To Sell 50 Pct Share Of MLC Centre

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    Jan 16 (Reuters) - GPT Group (GPT) :

    • GPT ANNOUNCES PLANS TO SELL 50 PER CENT SHARE OF MLC CENTRE
    • DIVESTMENT OF MLC CENTRE IS EXPECTED TO BE BROADLY NEUTRAL TO EARNINGS FOR GROUP IN 2019 BEFORE ANY REINVESTMENT OF SALE PROCEEDS
    • GROUP PLANS TO REINVEST PROCEEDS FROM SALE INTO ITS DEVELOPMENT PIPELINE, WHICH INCLUDES NEW OFFICE TOWER AT 32 SMITH STREET, PARRAMATTA
    • SALE WOULD SEE CO'S SYDNEY OFFICE EXPOSURE INITIALLY REDUCE TO 60 PERCENT WITH ITS WEIGHTING TO MELBOURNE INCREASING TO 34 PERCENT

    Source text : http://bit.ly/2CrRiUG

    (([email protected];))

 
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