BREAKFAST DEALS: GPT shop drop

GPT Group looks to have found a buyer for its Erina Fair shopping centre stake ahead of a potential Australand deal, while UGL shareholders seem eager for a demerger.

GPT Group is set to announce the sale of its half stake in a New South Wales central coast shopping centre, as talk grows of fresh discussions with Australand. UGL’s profit guidance downgrade has underlined just how much shareholders would love a demerger. Meanwhile, James Packer has picked his Barangaroo architects and ANZ Bank is reportedly responding to the scrip battle over The Trust Company.

GPT Group, National Pension Scheme, Erina Fair

South Korea’s National Pension Scheme, a $300 billion powerhouse, looks poised to be named as the winner of GPT Group’s half stake in the Erina Fair shopping centre.

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