Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Goodman Group Interested in Managing ING Industrial

July 29 (Bloomberg) -- 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 said.

Goodman shares slipped 1.6 percent to close at 63.5 Australian cents in Sydney. ING Industrial Fund ended the day down 1.1 percent at 44.5 Australian cents.

To contact the reporter on this story: Nichola Saminather in Sydney at nsaminather1@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.