Staff
The Canada Pension Plan Investment Board and its partner, Dexus Property Group, have reached a conditional offer to buy Australia’s Commonwealth Property Office Fund after sweetening their bid.
The two are now offering A$2.8 billion ($2.74 billion) for the company, up from last month’s bid of A$2.7 billion.
Under terms of the conditional deal, the parties must negotiate in good faith to reach a binding implementation agreement by mid-December.
The Commonwealth Property Office Fund is a real estate investment trust that invests in prime-quality office buildings located in central business district and major suburban markets in Australia.
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