MIIF sells tank storage unit for 89m euros

(SINGAPORE) Singapore-listed Macquarie International Infrastructure Fund (MIIF) said yesterday that it will sell a tank storage unit to a sister fund for 89 million euros (S$186 million).
MIIF said in a statement that it will sell the unit, which represented 10.5 per cent of its portfolio by value, to LODH Macquarie Infrastructure Fund. The company had earlier called for a trading halt for the announcement, which was delayed due to a technical problem.

Proceeds from the sale would be used to repay debt, in line with the fund’s strategy to ‘progressively move its portfolio of assets to be more focused on Asian infrastructure’, MIIF said.

It said on Aug 29 that it sold a 3.2 per cent stake in Brussels Airport for about $110 million. The managers of both MIIF and LODH Macquarie are owned by Macquarie Bank , Australia’s top listed investment bank. — Reuters

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