BRIEF-Legg Mason reports second fiscal quarter results
* Board of directors has declared a quarterly cash dividend on its common stock in amount of $0.22 per share
HONG KONG Aug 18 Global private equity firm KKR & Co LP and Australian property manager Abacus Property Group have agreed to buy 70 percent of the World Trade Centre in Melbourne for A$120.4 million ($112.1 million), Abacus said in a statement on Monday.
The deal, KKR's first real estate investment in Australia, sees the firm and Abacus buy an interest in Towers 2, 3 and 4 of the World Trade Centre, in a deal which will provide an initial yield of 9.3 percent a year, Abacus said.
KKR has previously invested in real estate assets in Asia, in markets including China, India and South Korea.
The vendor, Asset 1 WTC, a privately-owned real estate group, will retain a 30 percent co-ownership interest in the property, which is part of the Northbank precinct adjacent to Melbourne's central business district.
Towers 2, 3 and 4 provide around 43,500 square metres (468,230 square feet) of office space and 4,600 square metres of retail space. Over 50 percent of the office component is leased to the State Government of Victoria.
($1 = 1.0738 Australian dollars) (Reporting by Stephen Aldred; Editing by Matt Driskill)
LONDON, Oct 28 Funds are taking large stakes in new, smaller, metal trading houses because they see potential for lucrative earnings in the sector, which investors had ignored due to poor returns.
* Expedia Inc says it does not presently anticipate that it would sell any of its Trivago shares in any initial public offering, should it occur