Centro Retail Australia
(ASX:CRF) chairman Bob Edgar says the US hedge funds that own 70 per cent of the newly formed entity are only likely to invest for up to three years.
Mr Edgar says it’s a romantic notion to think that hedge funds will passively sit there, and that it was likely they would sell through a secondary share offer.
The new five-member board has been revealed and a shortlist for a new chief executive has been decided.
