Scentre Group Notes Media Report Regarding Potential Deal for Stake in Westfield Sydney, Shares Climb 3%

MT Newswires Live12-11

Scentre Group (ASX:SCG) took note of a media report in The Australian on Thursday regarding a potential transaction concerning an interest in Westfield Sydney in New South Wales, according to a same-day Australian bourse filing.

The firm said it actively engages in talks with third parties about joint venture opportunities across its shopping center portfolio as part of its ongoing capital management strategy. Those talks may or may not result in new transactions for the group.

According to the report, the Australian Retirement Trust is in due diligence to acquire a stake in the Westfield Sydney complex, likely a 25% stake, with the deal to value the entire property at about AU$4.4 billion.

The firm's shares climbed 3% in recent trading on Thursday.

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