Im a previous employee of the company and am sorry to be the...

Im a previous employee of the company and am sorry to be the bearer of bad news. There is nothing in this deal for GMG at all. It is simply to sell a property to a willing purchaser which he is the CEO of. Greg Goodman needs cash. The senior management of Goodman have made some terrible blunders over the past 3.5 years. Buying into Europe, UK, and Japan at the top of the market. He then raised cash to buy out Macquarie when he should have paid off debt. These have been terible decisions for shareholders.

Him selling his own personal property to GMG is an absolute disgrace. Goodman has so many brown and green field sites globally they do not need another one.

GG basically needs cash. Lets face it he took up the rights issue and then dumped making a 50% profit. He did not strengthen his share holding. He has sold down recently knowing he will sell melbourne to GMG. I would love to know what yield. This will be the biggest Industrail transaction in Australia for the last 18 months and GMG is at 61 cents. This will be in keeping with Goodman's transactions over the past few years - A terible one for shareholders but good for personally the CEO.