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05 Mar '13, 2am

Singapore-backed Australand confirms takeover interest: MELBOURNE, March 5 – Property developer Australand Pro...

Singapore-backed Australand confirms takeover interest: MELBOURNE, March 5 – Property developer Australand Pro...

Singapore-backed Australand confirms takeover interest March 05, 2013 MELBOURNE, March 5 – Property developer Australand Property Group, which is controlled by Singapore-based CapitaLand, said today that several parties had expressed an interest in buying all or part of the company. Australand, which has a market value of A$1.99 billion (RM6.3 billion), said it would open its books to selected parties to enable them to firm up a bid. “Australand confirms that several parties have expressed an interest in either the whole or parts of the Australand business. “Australand is making certain information available to selected parties in order to determine whether any such proposal can be developed,” the company said in a statement on Tuesday. Mirvac is believed to be one of the parties. Another property group, GPT, had previously expressed an interest. The news comes after Capit...

Full article: http://www.themalaysianinsider.com/business/article/singa...

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