GIC, Charter Hall to acquire $490m stake in Ampol convenience store trust

GIC, Charter Hall to acquire $490m stake in Ampol convenience store trust

Photo: Reuters

Ampol plans to sell a 49 per cent stake in a newly established property trust owning 203 convenience store properties to a GIC-Charter Hall consortium for A$682 million ($490.3 million), the Australian fuel supplier said Monday.

The pricing values the entire unlisted property trust, which is estimated to receive A$77 million in rental payments in the first year, at A$1.4 billion, Ampol said in a statement filed to ASX.

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