Brookfield among suitors for CapitaLand's Australand - report
Canadian private equity firm Brookfield Asset Management is said to be among several investors targeting real estate developer Australand Property Group.
Australian real estate players Mirvac, Charter Hall and Goodman plus several other Asian investors have also approached Australand, which is controlled by Singapore's CapitaLand, with a view to acquiring all or parts of its business. According to The Australian, the company, which has a market value of A$1.99 billion ($2.03 billion), will open its data room to prospective suitors.
This renewed interest comes at a time when CapitaLand, which owns 59% in the company, is said to be carrying out a strategic review of it Australian investments.
Last December, Australand had received an offer of A$2.94 billion from Australian property firm GPT Group for its industrial and commercial properties but Australand said the offer, a premium of A$140 million to the book value of its assets, was too low. .
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