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Both Centro Properties Group (ASX:CNP) and Centro Retail Group (ASX:CER) have been placed in a trading halt pending an announcement regarding the restructure proposal.
The announcement is expected before Monday’s open.
On October 5th the CNP Board unanimously recommended the restructure.
The announcement comes just days ahead of a shareholder vote on the creation of Centro Retail Australia, which would form a new debt-free company worth more than $4 billion.
In the 2011 financial year, Centro Properties Group reported a net profit of a net profit of $2.8 billion.
