News: IOF Australia's Investa Office Fund gets sweetened Blackstone funds' buyout offer

Aug 22 (Reuters) - The manager of Australia's Investa Office Fund (IOF) said on Wednesday that two funds affiliated to Blackstone Group BX.N raised their offer to buy the real estate investment trust, making the deal potentially worth A$3.20 billion ($2.34 billion) on a distribution adjusted basis.

Investa's manager said the funds agreed to raise their offer by about A$120 million to A$5.3485 per IOF unit from an earlier bid of A$5.1485 per unit.

Trading in Investa shares were halted earlier on Wednesday pending the announcement. ($1 = 1.3669 Australian dollars)