CBA NOTES DEXUS AND CPPIB TAKEOVER OFFER FOR CPA
Commonwealth Bank of Australia (CBA) notes the announcement by DEXUS Property Group (DEXUS) and Canada Pension Plan Investment Board (CPPIB) (together the Consortium) that the Consortium intends to make an off-market takeover offer (DEXUS Offer) to acquire all of the issued units in Commonwealth Property Office Fund (CPA). CBA also notes the announcement by Commonwealth Managed Investments Limited (CMIL) that CMIL will consider the DEXUS offer.
CBA has been advised by DEXUS that it has completed its due diligence in relation to the management arrangements relating to CPA. CBA confirms that the confidentiality and exclusivity agreement entered into with DEXUS on 11 November 2013 has terminated.
CBA confirms that it intends to engage further with DEXUS to determine whether CBA will agree to provide facilitation services to DEXUS, with those services being dependent on the Consortium ultimately acquiring 50.1% of CPA, replacing CMIL as the Responsible Entity of CPA and assuming management of the trust.
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