Charter Hall looks to acquire Macquarie real estate
Macquarie Group is in discussions with Charter Hall about the potential acquisition of parts of Macquarie’s real estate funds management platform, according to a statement released to the Australian Securities Exchange (ASX) by Macquarie Group.
The potential acquisition is incomplete and subject to a number of conditions, and there is no certainty that the transaction will proceed, the statement continued.
The acquisition could potentially include Macquarie CountryWide Trust and Macquarie Office Trust, it was announced in separate statements.
The statements followed a report in the Australian Financial Review on Friday that suggested Charter Hall might be looking to acquire both trusts in the form of a three way merger.
Macquarie’s real estate banking arm contributed 4 per cent of Macquarie Group’s profit in the six months to September 2009, with over A$10.7 billion in real estate fund assets managed by the division and its associates, according to Macquarie.
AUTHOR
Mike Taylor
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