GIC and Charter Hall Group agreed to acquire a 49% stake in Ampol Property Trust for $489m.

GIC, a Singaporean sovereign wealth fund, and Charter Hall Group, an integrated property group, agreed to acquire a 49% stake in Ampol Property Trust for $489m. “This off market transaction follows regular dialogue with the Ampol team over the past 2 years and reinforces our confidence in the convenience retail sector. The extension of our 15-year relationship with GIC further grows the breadth of this multi-sector relationship and reflects our strong market position and continued conviction for Long WALE assets with strong underlying investment fundamentals,” David Harrison, Charter Hall Managing Director and Group CEO.