Infratil Limited (ASX:IFT) has announced it has entered into a block trade agreement to sell its 19.91% stake in Metlifecare Limited for an aggregated consideration of $237.93 million.
The New Zealand based infrastructure investment company is selling its stake in the retirement village and aged care provider, Metlifecare, to investment service company, Forsyth Barr Limited.
Infratil says its investment in Metlifecare resulted in a 15.5% annualised return since it purchased the stake in 2013.
The settlement is due to take on 11 April 2017.
Shares in Infratil Limited (ASX:IFT) last traded steady on 5th April at $2.68