Meriton Pty, the biggest apartment developer in Australia, has said that Canadian pension funds and investors from both the United Kingdom and China have shown interest in purchasing the company.
According to Harry Triguboff, founder and managing director for the company, said that bankers representing foreign interests have approached seeking to either buy all or part of the builder. He declined to identify the possible buyers.
The Australian Financial Review had reported Meriton has been in the takeover sights of an Asian investor. It also reported that the rising demand for apartments is sparked by Australians prioritizing convenience and affordability over space. This is what has made the Australian builder appealing to other Asian builders such as Fraser & Neave Ltd of Singapore, SP Setia Bhd of Malaysia and Far East Consortium International Ltd of Hong Kong.
In an interview last April 12 in Sydney, Triguboff said, "There are Canadian super funds, English super funds and Chinese of course. But I'm in good health and my grandchildren are growing up."
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