Australia's GPT Group slides to over one-month low on Perron deal

GPT

13/12/2024 24:50

** Shares of retail assets operator GPT Group  GPT.AX  fall
as much as 0.9% to A$4.44, their lowest since Nov 7
    ** Co set to buy a 50% stake in two retail assets from
Perron Group for A$482 mln ($306.94 mln)
    ** Assets to be acquired are two shopping malls in
Australia's Perth, Cockburn Gateway and Belmont Forum with a
combined Moving Annual Turnover of more than A$1 billion
    ** Stock has fallen 3.5% this year, as of last close

   ($1 = 1.5704 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))