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Reuters
Reuters
Business

Australia's Investa Office Fund gets sweetened Blackstone funds' buyout offer

FILE PHOTO: The logo for Australia's Investa Office Fund (IOF), a real estate investment trust, adorns the front of their office building in central Sydney, Australia, May 28, 2018. REUTERS/David Gray/File Photo

(Reuters) - The manager of Australia's Investa Office Fund <IOF.AX> said on Wednesday that two funds affiliated to Blackstone Group <BX.N> raised their offer to buy the real estate investment trust, making the deal potentially worth A$3.20 billion ($2.34 billion) on a distribution adjusted basis.

Investa's manager said the funds agreed to raise their offer by about A$120 million to A$5.3485 per IOF unit from an earlier bid of A$5.1485 per unit.

Trading in Investa shares were halted earlier on Wednesday pending the announcement.

(Reporting by Aaron Saldanha in Bengaluru; Editing by Muralikumar Anantharaman)

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