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CVC LIMITED — Capital/Financing Update 2014
Feb 4, 2014
64728_rns_2014-02-04_70fde9ab-81d4-4fa2-929f-20c4bc0d8c81.pdf
Capital/Financing Update
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4 February 2014
360 CAPITAL GROUP (ASX:TGP) AND CVC PROPERTY FUND (ASX:CJT)
STRATEGIC REVIEW AND CONDITIONAL ACQUISITION BY 360 CAPITAL GROUP OF RESPONSIBLE ENTITY OF CVC PROPERTY FUND
Following recent confidential discussions between TGP and CVC Limited (ASX: CVC);
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they have entered into a conditional share sale agreement providing for 360 Capital to purchase a 100% interest in the responsible entity of CJT from CVC at a purchase price which is not material to either TGP or CVC;
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TGP will over the coming months undertake a strategic review of CJT with a view to determining how best to actively engage the expertise and capabilities of TGP to improve the value of the CVC Property Fund for the benefit of all unitholders and for the mutual benefit of CJT and TGP; and
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once that review has been completed, TGP and CJT will provide an update to the market as to the outcomes of the strategic review and next steps to be taken.
For more information, please contact:
Tony Pitt John Hunter Managing Director Chief Financial Officer 360 Capital Group CVC Limited +61 2 8405 8860 +61 2 9087 8000
About 360 Capital Group (ASX code TGP)
360 Capital is an ASX-listed, property investment and funds management group concentrating on strategic investment and active investment management of property assets. The company actively invests in direct property assets, property securities and various corporate real estate acquisitions within Australian real estate markets on a private equity basis. The company’s 18 full time staff located in Sydney have significant property, funds and investment management experience. 360 Capital manages 10 investment vehicles holding assets valued at more than $845 million on behalf of approximately 9,000 investors, has over $90 million worth of co-investments across the 360 Capital platform and owns two direct assets valued at approximately $50 million.
360 Capital Group
Incorporating 360 Capital Group Limited ABN 18 113 569 136 & 360 Capital Investment Trust ARSN 104 552 598 Level 8, 56 Pitt Street Sydney NSW 2000 | GPO Box 5483, Sydney NSW 2001 Australia T +61 2 8405 8860 | Fax +61 2 9238 0354 | E [email protected] | W www.360capital.com.au