Morgan Stanley’s Australian buy

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Real estate acquisitions seem to be the flavour of the season. Th e real estate division of Morgan Stanley with $73 billion under management, is aiming to acquire Investa Properties, the Australian real estate firm. The $3.9 billion deal, the second one in a week’s time, would increase Morgan Stanley’s presence in Australia. Each share of Investa has been valued at A$3.08.Th rough this buy out, the New York based investment bank is adding to its portfolio, the largest publicly traded office owner of Australia that has stakes in more than 30 buildings. The total assets under management by Investa stood at A$7 billion at end 2006. The deal to be finalised requires approval by 75% of the shareholders. The shareholders meet is expected to take place in August.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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