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AUSTRALIA'S WESTPAC BANKING LAUNCHES NEW FOOD PROPERTY TRUST.
AsiaPulse News, October, 2002
SYDNEY, Oct 24 Asia Pulse - Westpac Banking Corp Ltd (ASX:WBC) is going back for a second helping of the fast food restaurant market by launching a new property trust.
Investors hungry for tasty places to put their cash are being offered the chance to invest in the bank's second property trust devoted to owning fast food and family restaurants.
The Westpac Family Restaurants Property Trust No 2 will own 19 Red Rooster, nine Chicken Treat, three Domino's Pizza and one Subway sandwich restaurant spread in locations across Australia.
The new trust follows Westpac's launch in June of its first Family Restaurants Property Trust, which owns Hungry Jacks and KFC restaurants.
The trust is seeking to raise $A33.2 million ($US18.52 million), of...
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