ARA Asset Management lodges takeover bid for ‘erratic’ Cromwell Property

ARA Asset Management lodges takeover bid for ‘erratic’ Cromwell Property

ARA Group CEO and co-founder John Lim speaks at the Asia PE-VC Summit 2019 in Singapore. Photo: DealStreetAsia.

Singapore-listed fund manager ARA Asset Management has lodged a takeover bid for Australia’s Cromwell Property Group as it decried the “erratic” and “undisciplined” strategy of the current management and board of the ASX-listed firm.