Cromwell Property Group

CMW: XASX (AUS)
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Cromwell: Sale of European Funds Business Fortifies Balance Sheet; Focus Returns to Australia

Cromwell has contracted to sell its European funds management platform and its coinvestments in associated assets, including the Cromwell European REIT and the Italy Urban Logistics fund. This is unexpected, as we assumed the group’s desire for a capital-light business model would involve increasing funds management, including in Europe.

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