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CHALLENGER LIMITED Capital/Financing Update 2004
64641_rns_2004-03-30_1e57bebb-bf63-4ea8-af25-c49614ea9ad0.pdf
Capital/Financing Update
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MARKET RELEASE
31 March 2004
CHALLENGER SETTLES ON FORESTRY ASSETS
31 March 2004, Sydney - Diversified financial services company Challenger Financial Services Group Limited (Challenger - CGF), today announced it has settled with Great Southern Plantations Limited (GTP) for the rights and obligations to acquire approximately 84,000 hectares of forestry assets.
Under the terms of the arrangement, Great Southern Plantations acquired the forestry assets for \$71m, a premium of \$17 million over Challenger's acquisition price.
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