(Reuters) -Hong Kong-listed Link REIT confirmed on Wednesday that it had submitted an offer to property giant Lendlease for the acquisition of certain shopping centres in Australia.
Lendlease is the entity responsible for the Australian Prime Property Fund Retail, which holds 50% stake each in Sunshine Plaza, Macarthur Square and Lakeside Joondalup across Queensland, New South Wales and Western Australia.
The portfolio of shopping centres is worth about A$1.5 billion ($973.20 million), according to media reports.
Link said it had not entered into any binding agreement and declined to comment further on specific details mentioned in media reports.
The REIT’s clarification comes after Lendlease on Monday informed the markets that it is looking to sell off the remaining assets under the A$2.9 billion retail fund.
The property giant has already initiated a separate divestment process for the Erina Fair complex on the New South Wales Central Coast, it said.
Lendlease did not immediately respond to Reuters’ request for comment.
($1 = 1.5413 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru; Editing by Shreya Biswas)
