Mirvac Group managing director Robert Hamilton said today Mirvac “is not currently involved in corporate activity regarding Ronin Property Group.”
He was responding to media speculation that Ronin (which contains Ronin Property Trust, the former AMP Office Trust in Australia) was a takeover target for either Mirvac or Multiplex Ltd.
Despite his denial, Mr Hamilton didn’t rule the idea out. He said Mirvac had a strategy to increase the scale of its property investment & management operations and continued to investigate opportunities.
Neither Multiplex nor Ronin has issued any statement on the speculation.
Ronin’s share price began to rise at the start of August, but has put on A7c to $A1.29 this week.
What happens to Ronin affects investment ownership in New Zealand. Ronin bought the National Provident Fund’s 30% stake in the AMP NZ Office Trust last summer, plus 50% of the trust’s management company.