Charter Hall completes Folkestone acquisition
Charter Hall and Folkestone have announced that the acquisition has been completed, with the scheme of arrangement between Folkestone and its shareholders having been implemented.
The implementation followed earlier approval by the Federal Court of Australia in October.
In August, Charter Hall first announced its plans to buy fellow property group Folkestone for $205 million, with the acquisition to be funded by cash from available investment capacity.
Folkestone also said that all its shares were transferred to Charter Hall, with shareholders receiving $1.39 per fully paid share comprising:
- the bidder consideration of $1.354 cash for each Folkestone share held on the scheme record date, being 31 October 2018,
- the special dividend of $0.036 in cash for each Folkestone share held on the special dividend record date, being 26 October 2018.
AUTHOR
Oksana Patron
Recommended for you
For overseas fund managers coming to Australia, a focus on platforms is critical for achieving growth, according to IMAP chair Toby Potter, flagging iCapital’s partnership with Netwealth as a firm which is succeeding in this goal.
Global investment firm Lazard Asset Management has appointed AllianceBernstein’s global head of investment as chief executive, as current CEO Evan Russo prepares to step down after almost two decades at the firm.
Ausbil has launched its first active ETF in response to adviser demand for a dual-access product offering regular monthly income.
Platinum Asset Management has reported its second-highest monthly outflows for 2025 with more expected later this year, thanks to a major client redemption.
