Elanor Commercial Property Fund (ASX: ECF), an externally managed real estate investment trust that invests in Australian commercial office assets, has received an unsolicited off-market takeover offer from the Lederer Group. The announcement was made public today, with Lederer Group proposing to acquire all stapled securities in the Fund for $0.70 (70 cents) in cash per security.
The Board of Directors of Elanor Funds Management Limited, the responsible entity of ECF, has stated that it is currently considering its response to the offer. The announcement was authorised for release by Mr Tony Fehon, Director of Elanor Funds Management Limited.
ECF securityholders are advised to take no action at this time in relation to the announcement or any documents received from the Lederer Group concerning their intended takeover offer. The Board will provide a formal recommendation to securityholders in due course.
The Fund has committed to keeping the market informed of any material developments, in accordance with its continuous disclosure obligations.
