Vicinity sold Chatswood Chase stake for $562m, buys it back for $307m
Shopping mall landlord Vicinity Centres has bought back the remaining half of Sydney mall Chatswood Chase for $307 million, at a hefty 45 per cent discount to the price it traded that stake on to Singaporean sovereign wealth giant GIC six years ago.
The $307 million price tag for the 49 per cent stake also represents a 6.5 per cent discount to the value of the 51 per cent stake that ASX-listed Vicinity had marked in its June accounts for the shopping centre 8 kilometres north of the CBD.
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