September 7, 2018 / 12:10 AM / 2 months ago

Trading in Australia's Investa Office Fund halted before takeover update

Sept 7 (Reuters) - Trading in shares of Sydney-focused landlord Investa Office Fund was halted on Friday before an update from the firm about a Blackstone Group LP buyout offer.

Buyout giant Blackstone said on Thursday it was willing to raise its bid for Investa to A$3.3 billion ($2.37 billion) to beat a rival offer from Canadian real estate fund Oxford Properties Group.

The U.S.-listed firm sounded out its intention to raise its Investa bid to a distribution adjustable A$5.52 per share from A$5.3485 after a competing bid from Oxford Properties, a wholly owned entity of Canada's Ontario Municipal Employees Retirement System.

$1 = 1.3904 Australian dollars Reporting by Aaron Saldanha in Bengaluru Editing by Paul Tait

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