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Nakheel sells its stake in Australia’s Mirvac

The shares sold for…

August 26, 2009 2:15 by

Dubai -based property developer Nakheel sold the last of its stake in Australian developer Mirvac Group for $167.6 million, reports Reuters.  Deutsche Securities Australia bought Nakheel’s 172 million shares at $0.96 a share.

Nakheel had told Reuters last year that it had planned to raise its 12.5 percent stake in Mirvac to just under 20 percent.

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