CHICAGO-Centro Properties Group, the owner of shopping centers across Australia and US, has plans of restructuring, which could split the Australian and US holding. The firm owns about 600 shopping centers in the US and 112 in Australia. Centro has about $16.6 billion in debt and on December 2011 a loan of $2.3 billion matures.
Robert Tsenin, the chief executive of Centro, has said that the Australian and US holdings together bring no synergies and splitting them is certainly an option. For the full story, go to Wall Street Journal.
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