Australand

Frasers Centrepoint secures 98.39% interest in Australand

Singapore-based real estate giant Frasers Centrepoint (FCL) has secured a 98.39 per cent interest in Australand at the close of its takeover offer of the Australian property group on Friday (Sep 5). FCL offered A$4.48 (S$ 5.25) for each Australand stapled security. The offer, which values Australand at around A$2.6 billion (S$3 billion), closed on Thursday (Sept 4). Under Australian law, FCL can...

Frasers Centrepoint gets green light to buy Australand

Singapore property giant Frasers Centrepoint Ltd (FCL) has got clearance from the Foreign Investment Review Board of Australia (FIRB) to go ahead with plans to buy Australand Property Group in a deal worth around A$2.6 billion. In a statement to the Singapore Exchange on Wednesday, FCL said it has received a "statement of no objections" from FIRB in relation to its proposed acquisition of up to 100...

Frasers Centrepoint’s A$2.6b offer to buy Australand accepted

Frasers Centrepoint Ltd's (FCL) bid to buy Australand Property Group in a deal worth around A$2.6 billion has been accepted by directors of the Australian company, the Singapore real estate giant said in a filing on the Australian stock exchange. FCL's offer of A$4.48 per Australand security was unanimously accepted by the Australian company's board in the absence of a superior proposal. An independent...

Frasers Centrepoint makes S$3b bid for Australian developer

Property developer Frasers Centrepoint said on Wednesday (June 4) that it has submitted a A$2.6 billion (S$3.03 billion) takeover bid for Australia's Australand Property Group. Frasers Centrepoint has proposed a cash offer of A$4.48 per share, topping a A$4.43 offer made by Australand stakeholder Stockland Corp, Australia’s second-largest property group. Australand’s board intends to recommend...

CapitaLand sells remaining stake in Australand for S$970.1m

CapitaLand has sold its remaining 39.1 per cent stake in Australia's Australand Property Group, raising around S$970.1 million. Singapore's largest developer said in a statement on Wednesday it placed out its remaining 226.2 million stapled securities of Australand at an average price of A$3.75 per stapled security. The price was a discount of 3.6 per cent to Australand's closing price on...

Australand says it has returned to the black for the first half of this year

CapitaLand's Australian unit, Australand, said on Tuesday that it returned to the black for the first half this year. Australand's net profit for the six months ended in June came in at 72.2 million Aussie dollars. That's a reversal of the 268.8 million Aussie dollar loss it incurred over the same period last year. Much of the improvement was due to investment property revaluation gains of 11.7 million...

CapitaLand’s Australand establishes A$1.3b debt facility

CapitaLand's Australian unit, Australand, said on Thursday that it has established a 1.3 billion Australian dollar unsecured debt facility. This replaces existing secured facilities totalling A$1.15 billion. The new facility comprises three tranches: A$325 million expiring in June 2012, A$650 million expiring in June 2013 and A$325 million expiring in June 2014. Australand said the new facility reduces...

AustraLand buys land parcel in Northshore Hamilton in Queensland

CapitaLand's Australian unit, AustraLand, has bought a 1.8 hectare fully serviced land parcel at the Northshore Hamilton site, fronting the Brisbane River in Queensland, Australia. The purchase price will be a combination of an upfront payment of US$11.1 million and a share of revenues through the life of the project. The acquisition price is conditional upon various approvals which are expected to be...

Australand reports net loss of A$298.2m

CapitaLand's Australian unit, Australand, said on Tuesday that it made a net loss of A$298.2 million. It said the accounting loss was due to revaluation losses on investment properties amounting to A$249.4 million. Moreover, it incurred the impairment of development and joint venture assets amounting to A$148.4 million, on top of a non-recurring finance cost of A$20.7 million. But Australand said it...

CapitaLand to fully subscribe to entitlement in AustraLand’s rights issue

CapitaLand said on Monday it would spend about S$330 million to fully subscribe to its entitlement in Australian unit, AustraLand's rights issue. AustraLand had announced a 7 for 10 rights issue at an issue price of 40 Aussie cents or about 47 Singapore cents. This is a 20 per cent discount from the firm's last trading price of 50 Aussie cents a share. CapitaLand owns about 59 per cent of AustraLand and...

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