Completion of sale of ANU Student Accommodation Concession
Infratil confirms that the sale of its 50% interest in the Australian National University’s Purpose-Built Student Accommodation concession to funds controlled by AMP Capital has completed. A co-investor, that held the other 50% interest in the ANU Portfolio, has also sold its interest on the same terms and conditions.
Infratil received cash proceeds of A$162.1 million on completion, as well as distributions of A$4.8 million in the period from 31 March 2019 to completion.
Infratil entered into the conditional sale agreement (announced on 1 April 2019) in reliance on a waiver from NZX Main Board Listing Rule 9.2.1 dated 8 May 2017. Reliance on the waiver was required to permit Infratil to undertake the divestment of the ANU co-investment transaction (with each of the co-investor and Infratil being advised by a related entity of H.R.L. Morrison & Co Group LP) without obtaining shareholder approval (such approval only being required given the co-investment relationship between the parties making them related parties for the purposes of the NZX Main Board Listing Rules).
Any enquiries should be directed to:
Mark Flesher, Investor Relations, Infratil Limited