Company Briefs: Singtel

Singtel

Singtel's wholly owned Australian telco Optus has signed a five-year extension of its partnership with fellow telco Vocus Group, offering access to the Optus 5G network and future technologies.

According to yesterday's statement, the partnership puts Vocus in a position to grow its mobile customer base across its brands and increase its market share in enterprise and small-to-medium business segments.

Vocus managing director and chief executive Kevin Russell said: "Our new partnership with Optus gives Vocus security in the knowledge of our access to market-leading future technologies, as well as the flexibility to put attractive mobile propositions in market in a timely manner."

Other key players in Australia's telecommunications space include Telstra and TPG Telecom, which is set to become Singapore's fourth telco.


Cromwell E-Reit

Cromwell E-Reit will buy three freehold logistics properties in France for €21.6 million (S$33.8 million) to tap the Greater Paris logistics market, said its manager in exchange filings yesterday.

The properties will be purchased by way of Cromwell E-Reit acquiring all the shares of Challenger DPG France SAS, which owns all three properties.

The purchase consideration includes a euro-for-euro 1.7 million cash injection for working capital for the latter.

The acquisition will be financed with debt and equity from Cromwell E-Reit's €224.1 million, 38-for-100 rights issue.

The three properties are located along the French logistics corridor, in Sully-sur-Loire, Villeneuve-les-Beziers and Parcay-Meslay.

The Sully property is fully let to Inteva Products, an automotive supplier for the CSA Peugeot group, while the Parcay building is fully let to Atac, a subsidiary of the Auchan group.

Likewise, the Beziers building is occupied by DHL on a nine-year lease, and there are ongoing negotiations with a French retailer to take over the lease.

Cromwell E-Reit's manager said the French properties will increase its portfolio valuation by 2.6 per cent.

A version of this article appeared in the print edition of The Straits Times on December 25, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe