News: Centro assets sought after

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Bloomberg has reported that a number of property companies, wealth managers and private equity firms are lining up to bid for shopping centre owner Centro Properties Ltd's (ASX:CNP) assets.

Centro, which manages $18.6 billion of shopping centres across Australia, New Zealand and the US, put its assets up for sale two years ago after an acquisition spree in the US backfired as the economy contracted.

Lend Lease, Stockland, AMP Capital and Colonial First State Global Asset Management are all believed to be in the running for Centro's malls.

For the year ended 30 June 2010, Centro reported a net loss of $523 million.