AOF mulls wind-up | PE shootout at Waste Services Group | Cuscal IPO rebooted

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Australian Unity Office Property Fund’s long-suffering shareholders are set to administer the $206 million ASX-listed fund its last rites, as a five-year-long battle to delist it draws to an end.

Street Talk understands AOF is mulling a wind-up proposal that could be put to shareholders as early as this month, and requires 50 per cent of the register to agree for it to be successful. The preparations come as AOF closes in on a sale of its 64 Northbourne Avenue tower in Canberra, which would leave it with just one property in St Kilda that hasn’t been spoken for in the portfolio.

Sources say AOF has found a buyer for the Canberra property at about $22 million – versus the $29.5 million book value at the end of the 2023 financial year – and is expected to sign the sale documents as soon as a lease extension with a key tenant is bedded down.

An AOF spokeswoman declined to comment when contacted by Street Talk this afternoon.

Read the full story tomorrow and more on the Street Talk page.

Street Talk understands a sale flyer for Neoen’s Victorian assets is circulating among interested parties before a two-stage auction. Bank of America infrastructure boss Sam Watson is again overseeing the mooted divestment.

Australian shares edged higher as a tech rally and a late rebound in miners offset a retreat in energy amid a deluge of corporate results on the busiest day so far this earnings season.

Click here for the latest equity market wrap.