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Centro Properties Group (ASX:CNP) says there’s going to be “chaos” if shareholders don’t approve a merger between it and Centro Retail Trust (ASX:CER) on November 22.
The property group has $2.9 billion in debt that will mature on December 15, and the merger’s planned to combine the companies into a simplified entity, which is a pre-condition to financiers providing long-term debt financing.
CEO Robert Tsenin told ABC the new structure would allow the company to take advantage of significant development opportunities.
Centro Properties Group (ASX:CNP) reported a profit of $2.8 billion for the six months to June.
