Australian Unity Office Fund enters into Scheme Implementation Agreement with Charter Hall and Abacus

Company News

by Anna Napoli

Australian Unity Office Fund (ASX:AOF)  has today announced that it has entered into a Scheme Implementation Agreement with Abacus Property Group and Charter Hall Group (Consortium).

The consortium increased their joint bid to $494 million for the company last month and will acquire all of the issued units in AOF that it does not already hold for $3.04 cash per unit.

Scheme consideration represents a 9.4 per cent premium to AOF’s closing price of $2.78 on 3 June 2019.

The Australian Unity Investment Real Estate Independent Directors (Mr Peter Day, Mr Don Marples and Ms Eve Crestani) have unanimously recommend that AOF unitholders vote in favour of the Scheme, in the absence of a 'superior proposal'.

Share in Australian Unity Office Fund (ASX:AOF) last traded at $3.01.

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.