Shopping Centres Australasia rises on $125 mln acquisitions

Region Re

20/06/2022 06:17

** Shares of Shopping Centres Australasia Property Group RE
 SCP.AX  rise as much as 2.2% to A$2.740, their highest since
June 10
    ** Co enters https://www.asx.com.au/asxpdf/20220620/pdf/45b1x6kcmb3015.pdf
 into agreements with Centuria Capital Group's  CNI.AX  unit
Primewest to acquire five convenience-based shopping centres
across Australia
    ** Deal for combined purchase price of A$180 mln ($125.32
mln)
    ** Acquisitions are expected to settle in early July 2022 -
SCP
    ** Stock on track for best session since June 16, if gains
hold
    ** As of last close, SCP down ~9.8% this year
    ** Shares of fund manager Centuria Capital rise as much as
2.8% on Monday to A$1.943, highest since June 10

($1 = 1.4364 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))