Analysts said the deal would give Morgan Stanley control of Investa's commercial property portfolio in Sydney and Melbourne which have benefited from a surge in rental prices, but it would be keen to sell-off its lagging residential division. "I'm assuming Morgan Stanley or whoever buys the company will look to divest some of the portfolio quickly, perhaps sell off some of their office properties in the United States," said one analyst who did not want to be named. No Divestment Plans However, Investa Chairman Steve Crane told reporters on a conference call there were no plans to sell-off businesses or reduce staff. He declined to say whether Investa had received approaches from any other parties but said Investa had been in talks with Morgan Stanley since the end of March. Investa is a diversified property company with A$7 billion in assets under management, including an Australian commercial office portfolio of A$4 billion.