Investa Rebuts Cromwell’s Proposal But is Open for Improved Offer
Cromwell Property Group is seeking support from Investa Office Fund unitholders to conduct due diligence before potentially putting forward a binding cash offer to privatise the fund.Previously, the responsible entity of Investa Office Fund, rejected a request by Cromwell to conduct due diligence investigations as a condition of a proposed cash offer of AUD 4.45 per unit of Investa Office Fund. The offer price represents a 9% premium to our fair value estimate of AUD 4.10 per unit and a 5% prem...
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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