River stage: 8.68 ft. Rising
Friday, Dec. 6, 2013
WSJ reports new owners for West Park MallPosted Monday, February 28, 2011, at 11:01 AM
UPDATE: 6:30 p.m. Monday
Centro Properties Group Monday requested the Australian Stock Exchange Limited grant a trading halt of its securities effective immediately, pending an announcement of a potential transaction. It's requested trading halt remain in place until Centro making that announcement or the open of market on Wednesday, according to a copy of its letter to the stock exchange posted on its website Monday evening.
Centro Properties Group, which owns West Park Mall and 588 shopping centers in the United States, has reportedly agreed to sell its properties to Blackstone Group LP for $9.4 billion, the Wall Street Journal reported today.
A spokeswoman for Centro told me the company has made no such announcement, but suggested checking its website, http://www.centro.com.au/, later this evening.
The WSJ article cites unnamed sources "familiar with the matter."
Centro, which purchased the mall here in 2006, is based in Melbourne, Australia. The company is $8 million in debt on its U.S. portfolio, according to the WSJ article.
I'll continue to follow this development and keep you posted on how it may impact mall operations here in Cape Girardeau.
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Melissa Miller is business editor at The Southeast Missourian. A graduate of the University of Missouri Journalism School, she's worked as a reporter, photographer, editor and as the executive director of two not-for-profit organizations. After living in Michigan and then Indiana, she moved back to her hometown of Jackson, Mo. In addition to writing daily stories for The Southeast Missourian, Melissa coordinates editorial content each month for Business Today. Business Today is a monthly publication for southeast Missouri's business community. Monthly themes include health care, agriculture, women in business, technology and more. Business Today is direct mailed to business owner and managers throughout southeast Missouri and southern Illinois. Follow her updates on local business developments at www.twitter.com/semissourianbiz or on Facebook at www.facebook.com/MelissaMillerSoutheastMissourian