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Investa Office declares H2'18 distribution; Blackstone offer price adjusts

Blackstone Group LP's offer price for Investa Office Fund, or IOF, will be adjusted to nearly A$5.15 per unit from A$5.25 per unit as the target announced a 10.15 cents per-unit distribution for the second half ending June 30.

The adjustment is part of the binding A$3.14 billion deal signed between Investa Listed Funds Management Ltd., the responsible entity for IOF, and various funds managed or advised by Blackstone Singapore Pte. Ltd. Under the agreement, any IOF distribution carried out after May 4 and prior to the deal's completion would warrant an adjustment in the takeover bid.

IOF unit holders on record as of June 29 will be eligible to receive the six-month distribution amount on or before Aug. 27, according to a news release.