PAC exercises put option on RARE Infrastructure

2 July 2018
| By Oksana Patron |
image
image
expand image

Pacific Current Group (PAC) has announced it will exercise its put option on RARE Infrastructure, in which it currently owns a ten per cent stake.

The company also notified Legg Mason of its decision. In October, 2015 Legg Mason bought the majority of PAC’s holding in RARE.

PAC said in its announcement to the Australian Securities Exchange (ASX) that under the terms of the put/call, the final consideration would be determined by an independent valuer and the sale process would be expected to close within three months of the put or call exercise date.

In this instance, this would be by 30 September, it said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago