At least four companies are considering bids for a controlling stake in the struggling retail-giant, Centro Properties Group.
Bids are expected from Blackstone Group and General Electric's GE Real Estate in the US, Australia's Mirvac Group and Mulpha, a subsidiary of Malaysian conglomerate Mulpha, informed sources said.
Other bidders are also likely to vie for Centro Properties as well as its various interests.
Centro is expected to collect formal bids “within several weeks”. Details of the planned bids weren't available.
Blackstone and GE declined to comment. Mirvac and Mulpha didn't immediately return messages seeking comment.
Previous Centro Posts:
- Feb. 28, 2008, Centro Shares Surge
- Feb. 15, 2008, Centro Wins Extension
- Jan. 15, 2008, Scott Out, Rufrano In at Centro
- Jan. 10, 2008, Daily Centro Update
- Jan. 9, 2008, UBS Cuts Stake in Centro
- Jan. 3, 2008, Centro: Morgan Stanley, Westfield Have Approached Firm
- Jan. 2, 2008, Centro Says Its Getting Offers
- Dec. 18, 2007, Another Round of Centro Coverage
- Dec. 17, 2007, Centro Hit by Credit Crunch
- May, 10, 2007, Centro's Structure
- Feb. 28, 2007, Centro To Buy New Plan