Aussie Investor Wants $9B Blackstone-Centro Deal Blocked

Law360, New York (June 16, 2011, 5:37 PM EDT) -- A shareholder in Australia-based Centro Properties Group on Tuesday renewed its fight with the company, launching a new suit accusing Centro of violating Australian securities laws with the $9.4 billion sale of its U.S. shopping malls to the Blackstone Group LP.

The shareholder, Smartec Capital Pty Ltd., owns about 0.5 percent of Centro's stock and has fought relentlessly against the sale of the real estate investment trust's U.S. assets.

In February, Centro announced the sale of all its U.S. assets, some 588 shopping malls, to Blackstone....
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