It’s back to the drawing board for office buildings owner Australian Unity Office Property Fund.
It’s back to the drawing board for office buildings owner Australian Unity Office Property Fund, after talks with suitor Aliro Group about a $403 million buyout collapsed.
Sources said Aliro and Australian Unity Office Fund and its biggest investor, Hume Partners, had failed to agree a cut-priced deal after an extended period of exclusive due diligence.Aliro, an Australian investment manager with $1.6 billion in funds under management, secured due diligence with aWhile Aliro had the support of AOF’s biggest securityholder Hume Partners going into due diligence, Aliro tried to re-price the deal lower and lost Hume’s backing, sources said.
Its options included selling the vehicle, divesting some or all of the assets, or trying to refurbish its sites and continue to own them. Highbury Partnership and KingAliro stumped up its $2.45 a security proposal in May, and spent the past few weeks negotiating with Hume about a revised proposal. AOF securities last traded at $2.21. The listed fund has nine properties, including office buildings in western Sydney, Adelaide, Brisbane, Melbourne and Canberra, and was its portfolio was valued at $606 million at the end of December.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
One day into office, Sri Lanka's President cracks down on protestersAmid the climate of political distrust he has inherited, the new President has named Dinesh Gunewardena — an ally of his predecessor — Prime Minister.
Read more »
Gabba Olympic funding up in air, despite purported pact with former PMQueensland’s premier insists the $1 billion Gabba rebuild will be co-funded by Canberra, but the new federal government says no firm deal had been reached.
Read more »
Byron Bay's Splendour in the Grass kicks off after muddy startGALLERY: After getting off to a muddy start, Byron Bay's Splendour in the Grass kicked off on day two, demonstrating the 'show must go on'. 9News
Read more »
Byron Bay's Splendour in the Grass kicks off after muddy startGALLERY: After getting off to a muddy start, Byron Bay's Splendour in the Grass kicked off on day two, demonstrating the 'show must go on'. 9News
Read more »
It’s so hot in China, melting glaciers risk collapsing damsSome coastal cities are already on their highest alert level and the forecast is for 40-degree heatwaves for the next 10 days.
Read more »
AFL 2022 round 19 LIVE updates: Richmond Tigers, Fremantle Dockers clash at Marvel Stadium; Martin aggravates hamstring injuryLIVE | The Tigers will be desperate to stay in the top eight while the Dockers will be pursuing a final four finish. Follow the action in our live Friday night footy blog with Roy Ward. rpjward agerealfooty
Read more »