Several parties express interest for whole or parts of business. THE possibility of CapitaLand divesting its investment in Australand Property Group has attracted several parties, who have expressed an interest in either the whole or parts of the Australian subsidiary's business.

Disclosing this yesterday, Australand said that it is making certain information available to selected parties to determine whether any proposal can be developed. But both Australand and CapitaLand emphasised that the expression of interest by the parties did not mean that any definitive proposal was forth coming. CapitaLand's strategic review of its investment in 59.3 per cent‐owned Australand is part of a broader move unveiled by the property giant earlier this year to streamline the group's business and focus on China and Singapore.

Yesterday, CapitaLand announced that it has appointed JP Morgan (SEA) as its financial adviser to help with the Australand review.

Source: AmFraser