Charter Hall funds sell 10pc Waypoint REIT stake

Waypoint was previously called Viva Energy REIT and owns Australian service stations.

Property group Charter Hall is selling $203m worth of shares in Waypoint REIT through JPMorgan and UBS.

Shares are being sold at $2.61 each.

The price is a 4.4 per cent discount to the last traded share price of $2.73.

The sale by Charter Hall funds involves 77.9 million securities, equating to a 10 per cent stake.

Waypoint was previously called Viva Energy REIT and owns Australian service stations.

Charter Hall Group purchased shares in Viva Energy REIT earlier this year in a move some thought could be a precursor to a takeover for the group with a $2.7bn portfolio.

But it internalised its management, which put an end to the speculation.

Charter Hall funds that divested shares include Charter Hall and the Charter Hall Long WALE REIT.