Charter Hall announces acquisition of 19.9% strategic interest in AOF and entry into Framework Agreement

Company News

by Anna Napoli

Charter Hall has today announced that together with Abacus Property Group they have acquired a 19.9 per cent strategic interest in Australian Unity Office Fund (ASX:AOF).

The acquisition was for a total consideration of $95.6 million, equivalent to $2.95 per AOF unit.

Charter Hall and Abacus Property Group have established a special purpose entity for the purposes of the acquisition. Abacus and Charter Hall each own 50 per cent of the Consortium Entity.

The consortium framework agreement proposes that the parties co-operate for the purposes of pursuing a transaction involving the acquisition of all of the AOF units not currently held by the Consortium Entity.

AOF owns a portfolio of 9 office properties located in 5 Australian capital cities that is consistent with Abacus’ and Charter Hall’s investment objectives.

Shares in Charter Hall (ASX:CHC)  are trading 0.43 per cent higer at $10.46.