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CVC Limited (ASX:CVC)

ALERT: Price-sensitive ASX Announcement for CVC
Current share price for CVC : $1.695 0.045 (2.73%)+
Announcement
Release
17 Aug 2026 10:07AM
Price at Release
$1.650
Full Release
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Summary
CVC Limited announced a market update regarding the Liverpool investment, deciding not to proceed with the acquisition of the property located at Moorebank, New South Wales. This decision follows the cessation of a planning proposal for mixed-use development, leaving the property zoned as industrial. The Option Deed with Prysmian Australia Pty Ltd will lapse on 1 September 2026, with both parties agreeing not to exercise their options. CVC and LAC will receive a break fee and refunds totaling about $46 million. CVC recognized a $13 million write-down for the project in its financial year ended 30 June 2026, opting for this course of action due to various developmental constraints and higher downside risks.
Key Points
  • CVC Limited has decided not to proceed with the acquisition of the Liverpool investment property.
  • The Option Deed with Prysmian Australia Pty Ltd will lapse as of 1 September 2026.
  • CVC and LAC will not exercise their respective call and put options under the Option Deed.
  • The Vendor will pay a break fee and refund deposit payments totaling approximately $46 million.
  • CVC recognized a write-down of approximately $13 million for the project in the financial year ended 30 June 2026.
  • The decision was based on constraints and risks associated with the property's industrial development.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.