Prime trust sells 13 aged care facilities and villages to Lend Lease Primelife plus settles legal dispute

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Prime Trust has achieved $77 million from the sale of nine aged care facilities and four retirement villages to LLP, representing a 20% discount to their book value. At the same time Prime Trust and LLP settled their legal dispute over the management of 12 Prime villages by LLP. This included LLP granting an option to Prime Trust to buy the management rights for its 12 villages, that are core to its business, back from LLP for between $42 and $45 million.