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.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.