| Cromwell Property and Charter Hall are circling the $2.3 billion Investa Office Fund in a move likely to result in the dismemberment of the listed trust’s parent, the Morgan Stanley-backed Investa Property Group. A vote towards a full buyout of the management rights remains the likely option. Such a deal would also deliver control over a $2.45bn portfolio of assets Morgan Stanley recently sold to China’s sovereign wealth fund CIC.
While Cromwell continues to size up its options on IOF, it is understood the group is also considering another tilt for the entire platform. The group waded into the Investa race first time round but was eclipsed by China’s sovereign wealth fund CIC, which offered $2.45bn for a directly-owned portfolio of assets...............................................Full Article: Source
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