Investa Hangs Out for Sale Sign in Granting Cromwell Due Diligence
Following receipt of a non-binding takeover proposal from Cromwell, the independent directors of Investa Office Fund, or IOF, are granting Cromwell access to undertake due diligence subject to a confidentiality deed. Most importantly Cromwell will be in a better position to formulate a binding all-cash and fully-funded proposal. Cromwell this week made a conditional offer of AUD 4.85 per IOF unit including IOF’s anticipated AUD 0.10 distribution for the period ended June 30, 2017. This latest of...Investa Office is a real estate investment trust formed by the stapling of the units in two Australian registered schemes, Armstrong Jones Office Fund and Prime Credit Property Trust. The principal activity of Co. is to own investment grade office buildings, generating rental and other property income. These properties are either owned directly or indirectly through the ownership of interests in unlisted entities.
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