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Fun and games in the takeover proposal of Investa Office Fund (ASX:IOF)

As reported in The Australian newspaper, the Investa Office Fund (ASX:IOF) portfolio of offices, which is currently managed by Investa, may have another manager, with advanced talks with an institutional partner underway.

The interest by another party to manage the platform is a separate move to the recent takeover bid for Investa Office by Blackstone.

Investa Commercial Property Fund (ICPF), which is an unlisted company, owns a major stake of 20% in Investa Office but owns 100% of the management rights.

If the manager did change, Investa says that there would be no impact on the Blackstone proposal.

DEXUS Property Group (ASX:DXS) and Cromwell Group (ASX:CMW) are also involved in the office sector, and in the past have made attempts to take over Investa’s office portfolio.

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Motley Fool contributor Rosemary Steinfort has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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