CFS Property to acquire AXA headquarters
Colonial First State Property will acquire AXA’s Melbourne headquarters at 750 Collins Street through its Commonwealth Property Office Fund.
The move was today approved by unitholders of the Grocon Property Trust Australia, just a day after AXA Asia Pacific Holdings and AMP Limited announced they had completed due diligence on a proposed merger.
The settlement is due to be completed on 21 December, 2010. Details relating to the acquisition were announced to the Australian Securities Exchange as part of the ‘Strategic Melbourne portfolio acquisition’ on 11 November, according to Colonial First State.
AUTHOR
Chris Kennedy
Recommended for you
Advisers could find themselves unable to receive the fair market price of their advice as the Delivering Better Financial Outcomes legislation states superannuation trustees can reject deductions that are not charged on a cost basis.
Two advice professionals have shared five key takeaways as to how advisers can strengthen their communication with clients, especially at review time, in order to build deeper relationships.
The Financial Services Council has launched the Digital Advice Expert Group to support policy development around digital advice adoption and ensure greater accessibility for Australians.
MLC Asset Management’s managed account offerings have hit $2 billion in funds under management, underpinned by over half of financial advisers’ usage of the investment products.
