Westfield constantly on lookout for acquisitions: chairman 23rd May 2008, 11:00 WST
Westfield Group chairman Frank Lowy says the group is constantly on the lookout for potential acquisitions.
“If there is an opportunity for Westfield we certainly would move on that,” Mr Lowy told shareholders at the company’s annual general meeting.
“I know that some of the newspapers have been expecting us to pounce but this is not a pouncing business, it requires a lot of consideration if there is an opportunity that we believe can add value to Westfield, we certainly would make a move on that.”
Over recent months, there has been market speculation that the world’s biggest shopping centre owner could be interested in some assets owned by Centro Properties Group.
Last year, Westfield sold stakes in six of its 118 malls including about $500 million worth of property to Centro.
AAP
Ends.
Cheers, Pie :-)
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