Scentre in NZ sales talks

 

WestfieldThe operator of Westfield shopping centres in Australia and New Zealand says it would consider selling partial stakes in some of its centres.

Scentre Group was established through a restructure of Westfield in June, and currently owns or part owns 38 shopping centres in Australia and nine in New Zealand.

The company is in talks with several investment groups about a potential sale of 50 per cent stakes in its New Zealand properties, according to media reports.

Scentre has not confirmed the reports, but said the introduction of joint venture partners fits with its focus on maximising income and capital growth.

“Should this strategy result in new transactions for the group, Scentre Group will advise the market,” it said.

Scentre securities were up 6.5 cents, or 1.9 per cent, at $3.495 at 1440 AEST.

AAP

Comments

Comment Manually

Twitter

Take a peek inside The Holiday Lab, Luxury Escapes' latest pop-up, which aims to cure people's post-vacay blues… https://t.co/y3gmsfcMoT

15 hours ago

Harvey Norman blamed a 4 per cent dip in first-half profit on bushfires and extreme weather #retail #ausbiz https://t.co/sl9CkzYHT9

18 hours ago

Research suggests criminal penalties won't be enough to stamp out corporate wage theft. Here's what else needs to h… https://t.co/HoYna6byVG

5 days ago