New consortium announces acquisition

Abacus Property Group charter hall group australian unity office fund AOF

4 June 2019
| By Chris Dastoor |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

9 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 14 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 12 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 15 hours ago