The long-running battle between Cromwell Property Group and its major shareholder has taken a new twist with the Brisbane fund-manager lodging a complaint with the Takeovers Panel, accusing ARA Asset Management of acting in association with other investors.
The allegation from Cromwell, were it to be proven, is significant because it would mean that the combined shareholding of the powerful Singaporean player and other investors breaches takeover rules.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
