GPT lifts stake
General Property Trust (GPT) said it had exercised its option to acquire a further 10 per cent stake in MLC Life, Ltd’s MLC Centre in Sydney’s central business district to take its holding to 20 per cent. GPT, Australia’s largest listed property trust, said it paid sAusts4.2s million (SNZ66.I9M) for the additional 10 per cent following independent valuations which placed a total value of sAusts42.sM (SNZ66I.9M) on the 67-level building. The valuations gave GPT a 43.8 per cent gain on its original 10 per cent stake, acquired in April, 1987, for sAust37.7sM (SNZ46.IM).
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Press, 21 July 1988, Page 23
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96GPT lifts stake Press, 21 July 1988, Page 23
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