Aug 21 (Reuters) - Australia’s Healthscope said on Tuesday it would establish a new unlisted property trust after it concluded a strategic review of its hospital property assets.
The company said in a statement that the new property trust would hold most of Healthscope’s freehold hospital property assets. It would lease them back to the parent company, which will own a majority stake in the trust, while a new co-investor is expected to hold an interest of up to 49 percent.
The hospital properties will have a book value for land and buildings of about A$1.0 billion ($732 million), Healthscope added. ($1 = 1.3669 Australian dollars) (Reporting by Devika Syamnath in Bengaluru; editing by Richard Pullin)