VIVA Energy (ASX:VEA) sells stake in its petrol station property trust

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.