Lend Lease Group (ASX:LLC) has reportedly rejected the offer of more than $2 billion worth of Centro Properties debt, held by hedge funds.
Today’s Australian newspaper has reported the rejection, despite Lend Lease’s continued interest in buying Centro’s portfolio of shopping centres.
Aquiring the debt would have given Lend Lease control of Centro’s properties, almost three months after Centro sold its US shopping centres to US private equity firm Blackstone Group for $8.9 billion.
Centro is reportedly seeking to consolidate its Australian shopping centres, amid rumours of a sale.
For the second half of last year, Lend Lease reported a profit of $227.4 million.
