New player for Propertylink, Cromwell 9 October 2017 withdraws from Investa

Listed A-REITs
  • Cromwell Property Group (ASX: CMW) has withdrawn from its planned takeover of Investa Office Fund (ASX: IOF) by announcing the sale of its 9.83% stake to Investa Listed Funds Management Limited (the Responsible Entity of the Fund) for $4.65 per unit. CMW exit comes 18 months after it acquired its stake in IOF back in April 2016 for $4.24 per unit.

  • The Directors of Asia Pacific Data Centres (ASX: AJD) have unanimously recommended the all cash takeover offer by 360 Capital Group (ASX: TGP) of $1.95 per unit for AJD. Currently TGP own 19.98% of AJD and are locked in a battle to gain control, with the current tenant NEXTDC (ASX: NXT) who own 29.2%.

  • Propertylink (ASX: PLG) announced that ESR Pte Ltd, has purchased an 18.06% stake in PLG for $1.02 per unit. This comes off the recent takeover proposal by Centuria Capital Group (ASX: CNI) of $0.95 per unit which was rejected by the PLG Board. Centuria own 17% of PLG. PLG has increased 8.1% in the past week as a result of the ESR announcement.