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
Lazard Asset Management has announced the launch of a new global equity fund, expanding its qualitative offering for Australian investors.
After introducing its first active ETF to the Australian market earlier this year, BlackRock is now preparing to launch its first actively managed, income-focused ETF by the end of November.
Milford Australia has welcomed two new funds to market, driven by advisers’ need for more liquid, transparent credit solutions that meet their strong appetite for fixed income solutions.
Perennial Partners has entered into a binding agreement to take a 50 per cent stake in Balmoral Investors and appoint it as the manager of Perennial's microcap strategy.
