This article is from the Australian Property Journal archive
CENTURIA Property Funds and GPT have signed a mutual confidentiality agreement.
The agreement comes after Centuria Metropolitan REIT made a $316 million takeover bid for the GPT Metro Office Fund.
CMA made a $2.46 scrip and cash proposal to acquire all of the units, which is higher than Growthpoint Properties Australia’s $2.41 bid.
Growthpoint has yet to respond to Centuria’s proposal with a counter offer.
The Centuria proposal is subject to a number of conditions, including satisfactory due diligence.
The mutual confidentiality agreement will allow Centuria access to due diligence information and materials during a 15 business day period.
During this period Centuria will conduct confirmatory due diligence on the GPT Metro Office Fund and GPT will conduct limited confirmatory due diligence on the Centuria Metropolitan REIT.
Australian Property Journal
