Platform Deal with Macquarie Could Lift Voting Restrictions and Scupper Blackstone Takeover of IOF
Macquarie Real Estate's last minute purchase of a 50% interest in the Investa management platform (the platform transaction) makes it far less likely the Blackstone Group will gain the 75% of votes to effect its proposed takeover of Investa Office Fund. We continue to recommend IOF security holders vote in favour of the proposal, noting the latest events increases the likelihood of any takeover becoming a drawn-out affair given the relevant legislation is complex and the outcome could ultimately...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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