Dexus to buy Melbourne’s 80 Collins for $1.48 billion

Company News

by Rachael Jones

Real Estate Investment Trust Dexus (ASX:DXS) is looking to raise $900 million via a placement of new shares after almost  completing the acquisition of 80, Collins Street Precinct in Melbourne.

The purchase is for a total cash consideration of $1.476 billion from QIC Global Real Estate.

Dexus will acquire a 75 per cent ownership and DWPF will acquire the remaining 25 per cent interest.

Placement issue price of $12.10 per new stapled security.

Shares in Dexus (ASX:DXS) are in a Trading Halt - Last traded at $12.50.

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.