-- Australian Unity Office Fund (ASX:AOF) confirmed receipt of Foreign Investment Review Board (FIRB) approval for the proposed AU$40 million sale of 150 Charlotte Street, Brisbane to a fund managed by Dexus (ASX:DXS), satisfying a key condition precedent to the transaction, according to a Wednesday Australian bourse filing.
The sale remains subject to approval from the company's unit holders, and the company's responsible entity, Australian Unity Investment Real Estate (AUIREL) has issued an explanatory memorandum for an extraordinary general meeting scheduled for May 8 to seek such approval, per the filing.
The broader proposal includes the disposal of AOF's main undertaking, the cessation of its real estate investment business, the distribution of proceeds to unit holders, the delisting from the Australian Securities Exchange, and the eventual wind-up of the fund, the filing said.
The directors of AUIREL unanimously recommend that the company unit holders vote in favor of the proposal, unless a superior proposal emerges, the filing added.
Australian Unity Office Fund's shares gained about 1% in recent Wednesday trade.