Stocks of the Hour: Sydney Airport, AusNet & Charter Hall Long WALE REIT

Sydney Airport (ASX:SYD) faced another challenging month in August after continued border restrictions and stay-at-home-orders in NSW. The airport took 51,000 passengers under its wing in August, down 98.6 per cent from 2019. Shares in Sydney Airport  (ASX:SYD) are trading 1.1 per cent lower at $8.21.

Global infrastructure investor Brookfield has made a revised non-binding offer to buy all shares in AusNet (ASX:AST) at $2.50 per share. The energy giant has decided to provide Brookfield the opportunity to conduct due diligence, in order to put forward a binding offer. Shares in AusNet (ASX:AST) are trading 18.7 per cent higher at $2.35.

Charter Hall Long WALE REIT (ASX:CLW) and a Charter Hall managed trust on behalf of Hostplus have entered into a $1.68 billion deal to buy ALE Property (ASX:LEP). Under the transaction, Charter Hall and its capital partner Hostplus will both own 50 per cent of ALE’s assets. Shares in Charter Hall Long WALE REIT (ASX:CLW) are trading 3.5 per cent lower at $5.09.

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Source: Finance News Network