Cromwell to Raise $105 Million to Buy Qantas Headquarters, Review Says

Cromwell Group is seeking to raise as much as A$120 million to buy Qantas Airways Ltd.’s global headquarters in Sydney, the Australian Financial Review reported. The company yesterday said it would try to raise as much as A$80 million at 75 Australian cents a share, and between A$40 million and A$68 million through a rights issue at 72 Australian cents, according to the report. Redefine, South Africa’s largest real estate investment trust, will put in A$52 llion and participate in the rights issue, bringing its stake in Cromwell to 19.9 percent, the newspaper said.

To contact the reporter on this story: Nichola Saminather in Sydney at nsaminather1@bloomberg.net

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