New consortium announces acquisition
Abacus Property Group and Charter Hall Group have announced they acquired a 19.9 per cent strategic interest in the Australian Unity Office Fund (AOF).
The two companies had combined to create a consortium, with each company holding exactly a 50 per cent stake.
The total consideration is of $95.6 million, equivalent to $2.95 per unit, and would establish a special purpose entity for the acquisition and holding their interest in the AOF.
They had also entered into a framework agreement which proposed the parties co-operate to pursue the transaction to acquire all AOF units not held by the new consortium.
AUTHOR
Chris Dastoor
Recommended for you
Six months after scrapping its planned deal with KKR, Perpetual is yet to make significant headway on the sale of its wealth management division but is focusing on alternatives for product development.
Platinum Asset Management’s NPAT has fallen by 89 per cent in FY25, with the firm confirming that it will be renamed as L1 Group following the expected completion of its merger with L1 Capital.
Bell Financial Group co-chief executive, Arnie Selvarajah, believes regulation will make the provision of episodic advice easier for consumers and is pivoting the business over the next two years to focus on wealth management.
Statutory NPAT at Pacific Current has almost halved in FY25 to $58.2 million as the result of an investment restructure.
