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.