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Pacific Current sells equity stake in Freehold Investment Management

Australia's Pacific Current Group Ltd. sold its equity stake in real estate investment company Freehold Investment Management Ltd. for its approximate book value.

The company did not disclose name of the buyer, the stake size and financial details in its Oct. 14 release.

As of June 30, Pacific Current Group held a 30.89% stake in Freehold Investment Management, according to the company's annual report.