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.