PAC exercises put option on RARE Infrastructure
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.
AUTHOR
Oksana Patron
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