| Singapore's GIC is believed to have submitted an attractive proposal to acquire Scentre’s $1 billion-plus New Zealand portfolio, but it remains to be seen whether the company will take the offer or pursue a float of the assets.
Scentre, which owns the Australian and New Zealand shopping malls that were spun out of Westfield this year, is also widely believed to be contemplating spinning off the assets into a new vehicle that will be listed on either the NZ stock exchange or the Australian bourse. There is much speculation on the NZ portfolio with Scentre also tipped to have sounded out UBS and JPMorgan on a potential float...............................................Full Article: Source
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