APN quells Australand speculation

Property group confirms exclusive negotiations, insists they are at an early stage.

APN Property Group (APD) has moved to calm speculation about its possible bid for the Australand Wholesale Property Fund No. 6.

In a statement to the Australian Securities Exchange, APN noted recent media speculation that it was the preferred bidder for the fund.

APN confirmed it is in exclusive negotiations with Australand Funds Management Ltd, but insisted these are at an early stage, incomplete and subject to conditions including due diligence and a number of board and investor approvals.

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