Waypoint REIT (ASX:WPR) is continuing to engage with Viva Energy Group's (ASX:VEA) Viva Energy Australia unit to convert its fuel and convenience network to the "On The Run" format, according to a Tuesday filing with the Australian bourse.
The discussion involves assisting Viva Energy in planning approval and discussing potential landlord funding for the conversion of company-owned sites, the filing said.
The company has so far granted landlord consent for planning applications on 14 owned sites, with four conversions completed in Sydney and Adelaide.
Additionally, the company plans to initiate an on-market buyback of up to AU$50 million worth of securities, per the filing.
Waypoint REIT and Viva Energy Group's shares were each up 2% in recent Tuesday trade.
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