MARINER Corporation has bought a 10% stake in property funds managers Viento Group.
Mariner bought the parcel from the Australian Securities and Investments Commission (ASIC) after it confiscated the shares from a group of Viento shareholders after the Takeovers Panel had determined that the shareholders failed to disclose they were associates holding more than 20% between them.
Mariner’s CEO Darren Olyney-Fraser said the company will seek a meaningful board role.
“Our intention is to support management initiatives at Viento, which will implement a more aggressive growth strategy,” he added.
Australian Property Journal
