Dexus sells its 50% interest in Southgate

Company News

by Rachael Jones

Property company Dexus (ASX:DXS) has settled on the sale of its remaining 50 per cent interest of Southgate Complex in Melbourne.

The sale proceeds will initially be used to repay debt and will progressively fund projects in Dexus’s pipeline of development opportunities.

The transaction was previously announced to the ASX on 8 August 2016.

Dexus is one of Australia’s leading real estate groups, managing a property portfolio valued at $26.5 billion.

Shares in Property company Dexus (ASX:DXS) closed flat at $9.89

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.