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Deal for Raffles Education to sell Australia property for A$82m falls through

AN A$82 million (S$83.5 million) deal Raffles Education entered into on April 16 with Australia's Propertylink for the sale of a six-storey commercial building in Parramatta in New South Wales has fallen through as both parties were unable to reach an agreement over the terms of the sale.

The said property is currently being leased out to Raffles Education's subsidiary, Raffles College.

Raffles Education shares closed S$0.001 or 0.6 per cent lower at S$0.178 on Wednesday before the announcement.

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