Washington H. Soul Pattinson and Company Ltd (ASX: SOL) shares are edging higher on Thursday after the investment group announced a major property transaction.
At the time of writing, the Soul Patts share price is up 0.95% to $44.52.
The stock has now gained almost 20% since the start of 2026 and is trading close to the upper end of its 52-week range.
So, what has Soul Patts announced?
Former Brickworks assets change hands
In a statement to the ASX, Soul Patts said it has signed a binding agreement with Goodman Australia Industrial Partnership and other Goodman Group (ASX: GMG) entities.
Under the deal, Soul Patts will sell its interests in several industrial property trusts that were previously held through Brickworks.
The company expects to receive around $1.89 billion after Brickworks’ share of the trust debt and transaction costs are paid.
Soul Patts said the sale price was in line with the property values used when it combined with Brickworks last year.
Notably, the transaction has brought the two companies together and ended a cross-shareholding arrangement that had been in place for decades.
It also gave Soul Patts direct ownership of Brickworks’ building products operations and a stake in its industrial property portfolio.
Why is the company selling?
The sale will give Soul Patts more cash to put towards other investments.
Managing director and CEO Todd Barlow said the company plans to use the money on opportunities in Australia and overseas.
He also said the extra cash would give Soul Patts more flexibility in the current market.
The company already invests across listed shares, private businesses, credit, property and other real assets, so the sale should give it more room to move when new opportunities come up.
However, Soul Patts is not completely stepping away from its partnership with Goodman.
Both companies will remain joint venture partners in the Brickworks Manufacturing Trust, which was set up in 2022. Soul Patts will continue to own 50.1% of that portfolio.
When will the sale be completed?
The sale is expected to be completed in late June, with no conditions left to be met.
The parties are still working through the final steps, but Soul Patts shareholders will not need to vote or take any action.
Once the money comes through, investors will be watching where the company decides to put it next.
Interestingly, the $1.89 billion is equal to more than 11% of Soul Patts’ current market value, giving management plenty of money to invest elsewhere.
The post Why are Soul Patts shares pushing higher again on Thursday? appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.