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$ awk '/[0-9][A-F]/&&!/:/{sub("-->",X);printf $1"-"$2";"}END{printf "\n"}' file
0AFC-51201;0AFD-17263;0AFE-51201;

You could simplify it to:
awk '/[0-9][A-F]/{sub("-->",X);s=s?s";"$1"-"$2:$1"-"$2}END{print s}' file
OR
awk '/[0-9][A-F]/{sub("-->",X);printf $1"-"$2";"}END{printf "\n"}' file

sed can handle it but has no output formatting.
With sed and tr
sed -n 's/^[- >]\{5,\} \([0-9A-F]\{4\}\) *\([0-9][0-9]*\) .*/\1-\2/p' file |
tr '\n' ';'awk has output formatting, and an RE or...

Is this how the actual data looks like? with space and tab and all? Cause it will matter while coding. A real data sample would help us better.

--ahamed

Here is another one with awk:

awk '
NR==FNR {obj[$1$2]=1; fn=FILENAME; next}
/^List/ {
if(s!="") printf "%s has %d objects from %s\n",s,cnt,fn
s=$0; cnt=0
next
}
$1$2 in obj {cnt++}
END {...

Here is an awk program that might work for the posted sample input:
awk ' BEGIN {
F = "file1"
while ( (getline line < F) > 0 )
{
gsub(/^[ \t]*|[ \t]*$/,...