F&N

F&N: Paying $85m to acquire Queensgate Gardens and 39 QGG Mgmt. The ppty is managed and operated by Frasers Hospitality under a mgt agreement. Commercial property, which includes investment properties, reits and the hospitality division, accounted for 4% of FNN's FY11 revenue and 14% of profit before interests and taxes. Acquisition is not expected to affect F&N’s NTA and EPS for FY12.