I think it's a good deal for both parties. Reduces overheads...

I think it's a good deal for both parties. Reduces overheads through economies of scale and interest expense. More importantly, large supermarkets have been leaning on suppliers for a while now and I'm guessing that includes the landlords. We need them as anchor tenants and they receive lower rents as a result. However the new FDC will control too many prime sites to be pushed around by the supermarkets. Hence there should be no undue pressure for lower rents from our major tenants. May also reduce "risk weighting" that I believe has been associated with FDC because of its Centro genesis. May also attract more local and global interest given the increased size. As an original Centro "knife catcher" - I've been delighted with the performance and am quite pleased with this announcement.