Infratil to sell 50% interest in ANU student accommodation

Company News

by Rachael Jones

Infratil (ASX:IFT) is to sell its 50 per cent interest in the Australian National University's student accommodation concession to funds controlled by AMP Capital.

The New Zealand-based infrastructure investment company expects to receive cash proceeds of approximately $162 million.

The transaction is expected to be completed in mid-April 2019.

Infratil acquired the portfolio from ANU in 2016.

It has been successfully transitioned to private sector facilities management and expanded to include an additional 450 bed residence due to student demand.

Shares in Infratil (ASX:IFT) closed 5.1 per cent higher at $4.14.

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