whats the chance of a takeover, page-27

Makattack if someone takes over Centro they will bring some extra cash to pay off some debt and they would probably slash and burn a few assets as well.

I think there are two reasons why it has not happened so far

1. how the market has reacted to any company that has looked to make a takeover - look at the banks with ABN Amro - the banks were scared to buy due to the bad publicity in this climate even though it could be a good outcome.

2. as I said in a post above over 50% of this company is owned by less than 10 institutions. They will not give it away unless they think there is no option. They must believe the management that they can work their way out of this otherwise we would have seen change in substantial shareholder statements (I can't remember seeing one for 6 months).

Unfortunately this is going to take ages, but hopefully there will be a kick over the next two months when CAF sale is confirmed, September debt extension is announced and a couple more sales of centres are announced.

Why does it take so long to sell a shopping centre? the contract is probably a mile long. Lawyers for the buyers will want to check and negotiate on every little point. They will want to check all of the leases, get building inspections, valuations, check out the opposition, go through the business plan.....