Prominent director Gary Weiss has rejected suggestions ARA Asset Management is plotting a takeover from within by nominating him for a seat on Cromwell Property Group's board.
The powerful Singapore investment house is Cromwell's biggest investor, with a near 24 per cent stake. Its nomination of Dr Weiss, to be voted on at next week's annual shareholder meeting, follows months of acrimony between Cromwell and ARA, whose local head David Blight quit the board in July as the relationship turned toxic.
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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
