Australia's GARDA rises on divestment of Melbourne properties; to repay debt

Garda Diversified Property Fund

05/10/2023 01:45

** Shares of Australia's Garda Diversified Property Fund
(GARDA)  GDF.AX  rise as much as 6.4% to A$1.16, set to rise
most since May 30 if gains hold
    ** GARDA says it has entered agreement with Sentinel
Property to sell Botanicca 7 and 9 office properties in
Melbourne
    ** Says divestment for total value of A$80 mln ($50.62
million)
    ** Adds proceeds will be used for partial repayment of debt
facilities
    ** Stock hits highest since Sept. 19
    ** Stock has fallen 16.2% this year as of last close 


($1 = 1.5803 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))