Australia's Charter Hall Retail REIT drops; gathers over 56% stake in takeover target

Hotel Property Investments

24/12/2024 24:54

** Charter Hall Retail REIT  CQR.AX  falls as much as 4% to
A$3.12; lowest since July 1
    ** CQR now has 56.15% stake in its takeover target Hotel
Property Investments  HPI.AX , according to an exchange filing
    ** Pub landlord HPI asked shareholders on Friday to back its
A$760 mln ($474.2 mln) buyout to prevent a hostile takeover by
its top shareholder CQR
    ** HPI up 0.1% to A$3.785
    ** CQR down 10% this year vs HPI's 31.7% rise, as of last
close

($1 = A$1.6026)

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