SYDNEY (Dow Jones)--Centro Properties Group (CNP.AU) has opened a due diligence room to allow likely predators to investigate buying its A$2.6 billion Australian shopping center portfolio, the Australian newspaper reported Friday, without citing sources.
The company said Thursday that it failed to properly disclose more than A$1 billion of debt in the months leading up to its share price implosion.
In response to a query from the Australian Stock Exchange, Centro said that it had "incorrectly" classified A$1.097 billion of debt as "non-current" in its accounts for the year ending June 30 on Aug. 9.
The company didn't correct the information until Sept. 6.
CNP Price at posting:
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