Investa has been a takeover target for years, as tight supply and strong growth lift rents in Australia, especially in Sydney where the company’s towers are concentrated.
Deal comes less than 3 months after Santos rejected a $10.8b takeover from Harbour Energy.
The deal comes four-and-a-half months after Canada’s Saputo said it was discussing plans to sell the milk plant to address concerns from Australia’s competition watchdog about its buyout of Murray Goulburn Co-operative.
Yancoal also proposed a 35-for-1 share consolidation for shareholders’ approval, which its majority shareholder Yanzhou Coal Mining Company Ltd said it intends to support.
Toyota and GT Capital are co-owners of Toyota Philippines, the country’s top automotive manufacturer and retailer.
The deal comes at a time when the U.S. private equity giant Blackstone has been seeking to deepen its exposure to Australian and New Zealand commercial property.
Lone Star is betting on two large gas projects in China, where gas demand is soaring.
The bid marks a move deeper into the Australia-New Zealand real estate market for the U.S.-based private equity giant.
The purchase of the UK-headquartered maker of plastic “push-to-connect” (PTC) fittings would be supported by raising equity of up to A$1.10 billion.
Commonwealth Bank of Australia said it intends to list Colonial First State Global Asset Management on the Australian Stock Exchange by the end of 2018.