Normal
Unlikely CPPIB will want the non-core stuff. They are only interested in the trophy assets. 5 core assets are being sold to GPT's wholesale office fund GWOF with the remainder being held on balance sheet. The suburban office assets will likely be sold into GPT's new metropolitan office fund which they are currently seeding.DXS wins either way. They either win the CPA assets or they get a more handsome premium for the 14.9% stake if GPT win the bid. GPT's bid has no due diligence conditions, which as an investor would make me nervous that management are pushing too hard to get a deal done. I think it would have been much more sensible for them to look at IOF while DXS was preoccupied on CPA.
Unlikely CPPIB will want the non-core stuff. They are only interested in the trophy assets. 5 core assets are being sold to GPT's wholesale office fund GWOF with the remainder being held on balance sheet. The suburban office assets will likely be sold into GPT's new metropolitan office fund which they are currently seeding.
DXS wins either way. They either win the CPA assets or they get a more handsome premium for the 14.9% stake if GPT win the bid. GPT's bid has no due diligence conditions, which as an investor would make me nervous that management are pushing too hard to get a deal done. I think it would have been much more sensible for them to look at IOF while DXS was preoccupied on CPA.
Hello and welcome to Aussie Stock Forums!
To gain full access you must register. Registration is free and takes only a few seconds to complete.
Already a member? Log in here.
