remember caf could be sold within 30 days..., page-7

Centro 2008,

"and correct me if i'm wrong, but wasn't the book value of centro's share in CAF about $1 billion???"

Ill give it a go :)

From CNP FY08 Half Year Results Presentation: http://www.centro.com.au/NR/rdonlyres/A4BE6537-8B17-4C0B-AAB3-7DC163E785EC/0/CentroFY08HalfYearResultsPresentation.pdf

Gross Property Assets 31 Dec 07 (p20):
Centro America Fund (CAF) $1 bn

Centro Look Through Gearing (p27):

CAF - Borrowings: $0.48 bn
- Centro Interest: 83%
- Look Through: $0.39 bn

So the fund has 1 bn AUD in assets and 480 million AUD in loans. So of the 520 million AUD left Centro owns approx 416 million which when converted using the converstion rate used in the presentation (88c) gives us about 366 million USD.

Im only learning this stuff so let me know if i made any glaring errors.