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Australia's Stockland buys 12.7 pct stake in GPT

Tue Nov 11, 2008 7:16pm EST

Stocks

   

SYDNEY, Nov 12 (Reuters) - Australian property investor Stockland Group (SGP.AX) has acquired a 12.7 percent stake in rival GPT Group Ltd (GPT.AX), Stockland said in a statement on Wednesday.

Stockland said it paid an average price of A$1.07 a share for the acquisition. ($1=A$1.52) (Reporting by Denny Thomas;)



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