CRF
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0.00% $2.30 centro retail australia

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  1. FNN News
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    13/04/12
    11:45
    Post #: 9976633
    .

    Following a strategic review Centro Retail Australia Limited (ASX:CRF) says it is gearing up to offload stakes in its three largest shopping centres.



    New CEO Steven Sewell says the company is in talks with a number of investors to buy into its Australian shopping centres.



    Co-owners would potentially buy up to 50 per cent in Galleria in Perth, The Glen in Melbourne and Colonnades in Adelaide. 



    Funds from the proceeds would be put toward paying down debt and reinvesting into growth opportunities. 



    Centro has also today confirmed it expects to meet its annual earnings guidance of 15.3 cents per share with a distribution of 6.4 cents per share.

    CRF Price at posting: $1.82 Sentiment: None Disclosure: Held
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