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Reuters
Reuters
Business

Australia's Scentre Group buys 50 percent stake in Sydney property for $533 million

(Reuters) - Property manager Scentre Group <SCG.AX> said on Wednesday it bought a 50 percent stake in a Sydney shopping centre for A$720 million (402.4 million pounds).

The property, known as Westfield Eastgardens, is located in Sydney's south-eastern suburb and is currently owned by the Terrace Tower Group and managed by Scentre, the company said in a statement.

(Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu Sahu)

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