Australia's Scentre Group climbs on joint venture discussions with third parties

Scentre

11/12/2025 03:04

** Shares of Australia's Scentre SCG.AX rise as much as 3.8% to A$4.15, set for their strongest trading session in eight months, if current trend holds

** Stock touches its highest level since December 4

** The retail property manager responds to media report stating it's "actively engaging in discussions with third parties about joint venture opportunities across its shopping centre portfolio"

** Earlier in the day, local media reported superannuation fund Australian Retirement Trust was in due diligence for a stake in the Westfield Sydney complex

** Reports said the deal would likely see the fund take a 25% interest in the complex for more than A$1 billion ($665.70 million), making it one of Australia's largest retail property deals

** Firm says discussions may or may not result in new transactions for the group

** SCG up ~21% YTD, including session's moves

($1 = 1.5022 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))