CVC Limited (AU:CVC) has released an update.
CVC Limited has successfully refinanced a loan for its Marsden Park North project, initially due in June 2024, with National Australia Bank, following the termination of a Project Delivery Agreement with Mirvac. An independent valuation of the property suggests a potential $0.40 per share increase in CVC’s Net Tangible Assets, contributing to an unrecognised uplift of $1.03 per share across major property investments. While awaiting the state’s written position on rezoning the property for industrial use, the company anticipates further value addition from its key projects.
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