Wall Street Journal -- Challenger Infrastructure Fund has received a takeover offer from UK-based property investor Consensus Business Group, which values the fund at about A$1.06 billion (€637m).

Challenger Infrastructure, which is managed and roughly 33% owned by Challenger Financial Services Group, said yesterday it received the offer of A$3.50 a share from a Consensus subsidiary, Arkmile, which already holds about 19% of the fund. Consensus is the property finance group run by entrepreneur Vincent Tchenguiz.