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post Posted: Jul 22 2021, 10:22 AM
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New article up.

Charter Hall: An Underappreciated REIT



post Posted: Jul 24 2017, 11:28 AM
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Westpac Banking Corp. (WBC) said it is in talks with Charter Hall Group (CHC) over the sale of Hastings Management Pty. Ltd., a global infrastructure-assets business with funds under management of about 14.3 billion Australian dollars (US$11.3 billion).

A binding deal remains subject to the completion of due diligence as well as regulatory and board approvals, the companies said in a statement Monday.

Hastings invests on behalf of institutional investors in a broad range of infrastructure equity and debt, including interests in owners of airports including toll roads, airports including Melbourne Airport, seaports such as Port of Newcastle in eastern Australia and Northern Ireland gas distribution company Phoenix Natural Gas.

In February, Hastings bought the outstanding 50% stake in British utility South East Water on behalf of clients including investors within Canada's Desjardins Group. A month later it agreed a secured a debt-investment agreement with Development Bank of Japan Inc. and its DBJ Asset Management Co. arm to target investments in Organization for Economic Cooperation and Development countries.

Founded in Melbourne in 1994, Hastings now also has offices in Sydney, London, New York, Singapore and Seoul. Westpac bought 51% of the company in October 2002 and the remaining 49% in November 2005.

Charter Hall, one of Australia's largest commercial property investors, said the proposed acquisition provided an attractive opportunity to expand across real assets funds management.

some comment :
Charter Hall wants to create Australia's first big listed property-infrastructure funds manager, replicating the model which has been successful for Canadian giants like Brookfield. The challenge will be selling the merits of buying the business, which has $12.8 billion in assets under management, to Hastings investors who are said to nervous about a property funds manager with little experience in infrastructure taking control of the business.

Hastings, in which former Westpac boss David Morgan acquired a 51 per cent stake in for $36 million in 2002, is expected to fetch as much as $400 million although the price being discussed has not been disclosed.

However, Charter Hall will be talking up the considerable infrastructure experience within its management and board ranks. Philip Garling was AMP Capital's global head of infrastructure for nine years and the company's new finance chief Russell Proutt, who starts in the job next month, spent 11 years at Brookfield Asset Management. Hastings boss Andrew Day is also expected to stay on

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
post Posted: Sep 10 2010, 05:43 PM
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CBA have bought in...putting on my watchlist



Smile while TRADING it's only money... :)
post Posted: Mar 17 2009, 08:50 AM
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Things which make you go mmmh..
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post Posted: Aug 26 2008, 09:59 AM
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Recent Radio Broadcast (25/08/2008 15:30:00):
CHC - Annual Results Presentation - David Southon, Joint Managing Director; David Harrison, Joint Managing Director; Peter Roberts, Chief Financial Officer

N.B. Radio can normally be accessed by the 'RADIO' link, top of every page.
------------------------------------------------------------------------------------------------------------- Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

post Posted: Jan 24 2007, 03:16 PM
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In reply to: on Tuesday 02/08/05 03:46pm

Anyone interested in CHC? I bought in the float, mainly on broker's recommendation of strong management. Then some more on the strength of their capital raising efforts. Looks to me to be the kind of stock super funds would be interested in. Either direct investment or funds for acquisitions.

post Posted: Aug 2 2005, 03:46 PM
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