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GPT GROUP — M&A Activity 2012
Dec 9, 2012
65009_rns_2012-12-09_46750171-34a3-4278-a830-2e6005d63931.pdf
M&A Activity
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ASX announcement ASX code: ALZ / AAZPB
1 Homebush Bay Drive Building C, Level 3 Rhodes NSW 2138 02 9767 2000 PO Box 3307 Rhodes NSW 2138
10 December 2012
australand.com.au
Australand receives unsolicited approach from GPT Group to acquire its Investment Property Portfolio and Commercial and Industrial business
Australand Property Group (“Australand”) advises that after market close on Friday 7 December 2012 it received an unsolicited, indicative, non-binding proposal from The GPT Group to acquire Australand’s Investment Property Portfolio and its Commercial and Industrial business. The proposal involves Australand Holdings Limited retaining the residential business and remaining a listed entity.
The proposal is incomplete, highly conditional and is subject to a number of factors including undertaking due diligence.
Australand has become aware of market rumours in relation to this proposal and, accordingly, has decided to make this announcement.
The Board of Australand has not formed a view at this stage on the proposal. There is no guarantee that the proposal or any discussions with The GPT Group will lead to a formal, binding proposal for the acquisition of the Investment Property Portfolio and its Commercial and Industrial business. Accordingly, the Board of Australand recommends that securityholders take no action at this time.
The directors will keep security holders and the market informed of any further material developments as they occur.
Australand has appointed Fort Street Advisers as financial adviser and King & Wood Mallesons as legal adviser in relation to the proposal.
Issued by
Bev Booker Group Company Secretary T +61 2 9767 2000
Australand Holdings Limited ABN 12 008 443 696 Australand Property Limited ABN 90 105 462 137 AFSL 231130 as responsible entity of Australand Property Trust ARSN 106 680 424 and Australand ASSETS Trust ARSN 115 338 513 Australand Investments Limited ABN 12 086 673 092 AFSL 228837 as responsible entity of Australand Property Trust No.4 ARSN 108 254 413 and Australand Property Trust No.5 ARSN 108 254 771
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Investor enquiries
Kieran Pryke Chief Financial Officer T + 61 2 9767 2000 E [email protected] Narelle Checchin Investor Relations Manager T + 61 2 9767 2000 E [email protected]
Media enquiries
Trudy Wise Wise McBaron Communication T + 61 418 220 028 E [email protected]