December 20, 2024 07:26 GMT
REAL ESTATE: Vicinity Centres (VCXAU: A2/A): Divestments Lowering Gearing
REAL ESTATE
Gearing reduced by 230bps
- Vicinity announced the sale of 3 non-strategic assets for A$457m
- 5% premium to book value
- Settlement will be 30 June 2025
- Annual target for 2025 sales had only been $250m
- Press release claiming that gearing will fall by 2.3% (was 27.2% at FY24)
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