CFS Retail to sell 4 properties, sets guidance

The sale depends on whether Pacific Retail can successfully list on the Australian Stock Exchange.

CFS Retail Property Trust Group (CFX) has entered into a conditional agreement to sell four properties worth $446.5 million to Pacific Retail and set its guidance for 2013-14.

The contract to sell the properties depends on whether Pacific Retail, which is a newly formed fund seeking to list on the Australian Securities Exchange, can successfully raise enough capital via an initial public offering (IPO).

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