New consortium announces acquisition

4 June 2019

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.

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