GIC, Charter Hall team up for $715m stake in Caltex portfolio in Australia

Singapore’s sovereign wealth fund GIC has teamed up with listed Australian property developer Charter Hall to acquire a A$1-billion ($715 million) stake in Caltex-branded service stations and convenience stores in Australia, according to a report by the Australian Financial Review.

The deal involves a 49-per cent stake in the 250 petrol stations owned by Ampol, formerly known as Caltex, with GIC financing Charter Hall’s acquisition. The companies were expected to issue an official statement on the deal Wednesday.

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