Goodman Group, Australia’s largest
industrial real estate investment trust, said it is interested
in becoming the manager of ING Industrial Fund, in which it owns
a 4.4 percent stake.
The company has not had detailed discussions with ING Real
Estate, and there is no certainty the transaction will happen,
it said in a statement to the Australian stock exchange.
“Goodman believes that this would be a prudent expansion
of its fund management business,” it said in the statement.
Sydney-based Goodman would keep the ING fund as a separate
listed vehicle rather than merge it with its existing funds, it
Goodman shares slipped 0.8 percent to 64 Australian cents
at 10:55 a.m. in Sydney. ING Industrial Fund added 2.2 percent
to 46 Australian cents.
To contact the reporter on this story:
Nichola Saminather in Sydney at
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