Stocks of the Hour: Codan, Charter Hall Retail & CBA

Company News

by Lauren Evans

Codan (ASX:CDA) plans to purchase UK's Broadcast Wireless Systems (BWS) for an upfront payment of $3.7 million. Codan's subsidiary Domo Tactical Communications (DTC) will fund the acquisition from Codan's existing debt facility. Shares in Codan (ASX:CDA) are trading flat at $9.74.

Charter Hall Retail REIT (ASX:CQR) is set to acquire a 49 interest in 20 Ampol service stations for $50.5 million on a 5 cap rate. The company said it now expects FY 2022’s earnings per share to finish at the top of its prior guidance range. Shares in Charter Hall Retail REIT (ASX:CQR) are trading 2.4 per cent lower at $4.06.

Commonwealth Bank (ASX:CBA) has sold a 55 per cent stake in Colonial First State (CFS) to global investment firm KKR. The transaction implies a total valuation for CFS of $3.3 billion, which will result in CBA receiving around $1.7 billion from KKR. Shares in Commonwealth Bank (ASX:CBA) are trading 0.1 per cent higher at $93.23.

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