Former broker Austock Group , which was recently a takeover target by corporate raider Mariner Corporation, is looking to sell its $555 million property funds management to Folkestone. Austock, which is expecting a net loss of up to $16 million for fiscal 2012, is looking to offload its property division to Folkestone for $11 million. Earlier this month, Mariner made an application to the Takeovers Panel over the Austock-Folkestone deal, which Mariner labelled a “blatant attempt to block Mariner’s bid". Austock today bears little resemblance to its business several years ago. The group offloaded its securities business to Intersuisse in March, although the trading losses from its trading arm are expected to impact the group’s fiscal 2012 profitability. Restructuring costs were another burden expected to affect Austock’s upcoming profit results. The group’s share price is hovering at around the 13¢ mark, up from around 7¢ in early April.