API Fund has exercised its option to increase its stakeholding in the Australian Education Trust.
Api Fund has bought 10,286,536 units in AEU from ABC Learning Centres Limited for $18.51 million at a price of $1.80 per unit.
Following the acquisition, the fund will hold 14,730,980 units in AEU totalling 11.96% of issued capital and gearing will increase from 49% to 56%.
Upon completion, APR’s total investment in AEU by value will equate to 36% of its total portfolio.
Australian Property Journal
