August 22, 2018 / 4:33 AM / a month ago

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

(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.

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

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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