Charter Hall Continues to Target Growth With Australian Unity Office Bid
We have maintained our earnings forecasts and fair value estimate for narrow-moat rated Charter Hall Group at AUD 6.80 per share following its takeover offer for Australian Unity Office Fund, or AOF. At the current market price of AUD 10.55, we continue to believe the shares are significantly overvalued.Charter Hall has already acquired 19.9% of AOF through a joint venture with Abacus Property Group at AUD 2.95 per unit, costing AUD 96 million. The joint venture has also made an offer for the r...
Charter Hall Group is engaged in the investment in property funds, and property funds management. Co. has the following two reportable segments: Property Investments, which comprises investments in property funds; as well as Property Direct Investments, which comprises direct interests in investment properties; and Property Funds Management, which comprises funds management services, property management services and other property services.
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