Centro Retail Group Ltd
(ASX:CER) has closed out an additionally $156 million of equity hedges with Centro Properties Group Ltd
(ASX:CNP) at a nil mark-to-market value, as part of an agreement to reduce counterparty risk. The August 1, 2016 hedge was terminated as per agreements announced in January 2009, meaning Centro Retail has closed out 87 per cent of its equity hedges with Centro Properties.
The remaining hedges are now worth $335 million.
For the year ended 30 June 2010, Centro Retail reported a net profit of $114 million.
