| From Theaustralian.com.au: Vulture funds could make $83 million on their Centro investment if the shopping centre owner gets taken over by a Lend Lease consortium. The property giant Lend Lease had teamed up with Singapore sovereign wealth fund GIC and a US firm and made an informal approach for the Centro Properties Group and its satellite trust Centro Retail Group.
Simon Marais, managing director of opportunistic investor Orbis Australia, yesterday said his company had purchased a 13 per cent stake in Centro Retail for an average of 12c per unit after the company nearly collapsed..............................................Full Article: Source |