Challenger Infrastructure Fund announced that it has entered into a binding sale and purchase agreement for the sale of its 66.2% interest in LBC Antwerp-based for US$277.8 million (A$286.7million) to a consortium comprising Dutch pension fund asset managers APG Algemene Pensioen Groep N.V and PGGM (through its PGGM Infrastructure Fund 2012) and Australian superannuation investors, all advised by Access Capital Advisers. Completion of the sale is expected to occur in late July or early August 2012.

The sale is subject to the receipt of European antitrust clearance and, if required by the ASX, the approval of the unit holders of CIF.