LDR Assets Pty Ltd, as trustee for the LDR Assets Trust, has announced that its off-market takeover bid for the Elanor Commercial Property Fund (ASX: ECF) is now unconditional. LDR Assets is undertaking the takeover bid. Elanor Commercial Property Fund is comprised of Elanor Commercial Property Fund I and Elanor Commercial Property Fund II, with Elanor Funds Management Limited as the responsible entity.
According to a notice filed with the ASX on 11 September 2025, all defeating conditions outlined in clause 6.1 of Schedule 1 of the Replacement Bidder’s Statement have been removed. LDR Assets commenced dispatch of offers to ECF securityholders on 11 September 2025.
The notice also reveals that LDR Assets’ voting power in ECF is currently 27.9%, comprising 113,577,561 ECF stapled securities out of a total 407,002,325 ECF stapled securities presently on issue. The company’s initial relevant interest in ECF stapled securities was 1,492,449, with associates holding a relevant interest in 112,085,112 ECF stapled securities.
As the offer is now unconditional, LDR Assets has agreed to accelerate payment terms for the offer consideration. ECF securityholders who accept the offer will receive payment within five business days of validly accepting.
