Frasers Centrepoint extends Australand offer

For two more weeks.

Singapore’s Frasers Centrepoint LTD (FCL) holds 90% of Australand after rival Stockland sold 19.9% of its stock to the Singaporean firm.

Yesterday, FCL extended the offer period of its off-market takeover offer for Australian property group Australand to 4 September, 7:00PM Sydney time.

Early this month, FCL’s holding of Australand crossed the 50% mark, and FCL continues to express that Australia is one of its key markets.

The offer values Australand at $3 billion and was scheduled to close on Thursday, 21 August.