Judge Clears Way For Centro's $9.4B Malls Sale

Law360, New York (June 22, 2011, 1:14 PM EDT) -- An Australian judge on Tuesday threw out a suit from a shareholder of Australia-based Centro Properties Group seeking to block the debt-crushed real estate conglomerate's $9.4 billion plan to sell its U.S. shopping malls to Blackstone Group LP.

Judge Margaret Stone threw the case out on summary judgment a week after it was filed by plaintiff Smartec Capital Pty Ltd., paving the way for the deal for about 600 shopping malls across the U.S. to close June 30.

Centro shareholders are chafing since the company's shares...
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