Ciref buys strategic stake in Aussie trust Cromwell

Dec 24, 2009

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Trading in Ciref shares resumed trading today after it agreed the acquisition of a strategic 13.04% stake in Australian property trust, Cromwell Group.

The property investment and development company said earlier this week it had placed 23m shares at 52p each to partially finance an acquisition.

Regulatory approvals have now been satisfied, so the suspension of trading in Ciref's shares has been lifted with immediate effect, it said.

Cromwell, a stapled security consisting of an Australian Real Estate Investment Trust and Australian property funds management business, holds a A$1.2bn portfolio of Australian commercial property.

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