Investa announces IOF and Blackstone enter into Scheme

Company News

by Anna Napoli

Investa Office Fund (ASX:IOF) has today announced that it has entered into a Binding Scheme Implementation Agreement (SIA) with Blackstone.

Under the scheme Blackstone will acquire all units of the Inevesta Office Fund by way of a trust scheme.

Investa Office Fund an ASX-listed real estate investment trust

Blackstone is an American funds  management and financial services firm based in New York City.

Unitholders will be entitled to $5.25 cash per unit. The cash price will be reduced by any distributions declared or paid by IOF prior to completion of the scheme.

The Directors of Investa Office fund say they unanimously recommend that unitholders vote in favour of the scheme.

The scheme which is subject to a number of conditions is expected to be implemented in August 2018.

Shares in Investa Office Fund (ASX:IOF) closed 1.38  per cent higher to $5.13 yesterday.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.