Cromwell Property Group's biggest investor, Singapore's ARA Asset Management, has launched a bold move to significantly increase its say in how the property fund manager is run, through a $520 million part takeover bid.
The move comes after more than a year of increasingly bad blood between Cromwell, led by Paul Weightman, and ARA, which has a 24 per cent stake already and whose local arm is headed by David Blight.
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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
