Dexus, Canada fund buy A$2.8b trust

They will take over Commonwealth Bank of Australia's listed office trust

[SYDNEY] Dexus Property Group, Australia's biggest listed office landlord, and the Canada Pension Plan Investment Board reached an agreement with Commonwealth Bank of Australia to buy the bank's listed office trust for A$2.83 billion (S$3.3 billion).

Dexus and the Canadian fund increased their cash-and-stock bid to A$1.2052 a share, from A$1.15-a-share last month, Dexus said. A binding agreement must be reached by mid-December, according to the statement.

The takeover would be the latest in a string...

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