Oxford and Investa Listed Funds Management Limited ('ILFML'), as responsible entity of IOF, have entered into a scheme implementation agreement in relation to a trust scheme pursuant to which Oxford will acquire 100% of the units in IOF for cash consideration of A$5.60 per unit.
The directors of ILFML have unanimously recommended that IOF unitholders vote in favour of the scheme, in the absence of a superior proposal and subject to the independent expert concluding that the scheme is in the best interests of IOF unitholders.
It is Oxford's intention to establish a leading development, real estate investment and management platform in Australia consistent with Oxford's integrated platforms both in North America and UK/Europe. This transaction represents Oxford's first investment in the listed A-REIT sector.
Ashurst advised Oxford on all aspects of the scheme and the initial acquisition, including transaction structuring, provision of regulatory advice and negotiation of the key transaction documents.
The Ashurst team was led by corporate partner Anton Harris, supported by real estate partners Pauline Tan and David Jones.
The team also included real estate partner Andrew Deane, tax partners Vivian Chang and Barbara Phair, finance partners Jock O'Shea and Caroline Smart, and infrastructure partner Grant Rowlands, as well as Garry Besson, Andrew Kim, Lee-Anne Yeo, Jack Digby, Sharon Liu, Ben Lyttle and Megan Fung (corporate); Kitty Vo, Kate Pickthall, Maria Caramanlis, Victoria Lee, Kellie Hairsine, Jacinta Pitos, Emmy Ko, Kate Ferguson, Adrian Rodrigues, David Wang, Michelle Tesch, Jessie Shu, Elizabeth Stanley, Monica Limbers and Maggie Kearney (property); Michael Ryland and Jonathan Scott (funds); Bill Cannon, Sanjay Wavde, Peter McCullough, Paul Glover, Eli Bursky, Sammuel Dobbie-Smitham, Laura Scro and Tony Zhou (tax); Paul Zanelli, Elly Ko and Wilson Liu (banking and finance); Laura van den Berg and Rebecca Campigli (projects); Rebecca Dixon, Montana Linkio and Matyas Szuk (environment and planning); and Chris Benbow (London).
