Charter Hall is set to take over the listed Folkestone funds management platform which has been built up by Greg Paramor and his partners over the past eight years in a $205 million cash deal.
Under the terms of the deal – a scheme implementation agreement – Folkestone shareholders will receive $1.39 cash per share, a 25.2 per cent premium to the smaller fund manager's last close.
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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
