Australia's Star Entertainment to get $33 million from Hong Kong investors in asset swap deal

Far East Consortium International

07/03/2025 04:30

March 7 (Reuters) - Australia's Star Entertainment SGR.AX will receive a total balance payment of A$53 million ($33.41 million) in an asset swap deal with its Hong Kong investors Far East Consortium International 0035.HK and Chow Tai Fook Enterprises.

Under the deal, Star will sell its 50% stake in its Queen's Wharf precinct in Brisbane to the two parties and, in turn, acquire the parties' 66.67% stake in the Gold Coast project in Queensland, Far East said on Friday.

($1 = 1.5863 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru; Editing by Mrigank Dhaniwala)

 ((Himanshi.Akhand@thomsonreuters.com;))