Investa Listed Funds management (ASX:IOF)
has received judicial advise from the Supreme Court of New South Wales that the board would be justified in convening a meeting of Investa Office Fund unitholders to consider and vote on the proposal from DEXUS Property Group to acquire all of the units in Investa Office Fund.
The independent expert, KPMG Financial Advisory Services has concluded that the DEXUS proposal is fair and in the best interests of IOF shareholders.
The independent Directors of Investa Listed Funds Management have unanimously recommended that IOF unitholders vote in favour of the DEXUS proposal, in the absence of a superior proposal.
The meeting of IOF unitholders to consider the DEXUS proposal will take place on Friday 8 April.
Investa Office Fund recorded a net profit of $280.8 million at 31 December 2015.