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Report: Warburg Pincus, Charter Hall in talks for 50% of Commercial & Industrial

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Report: Warburg Pincus, Charter Hall in talks for 50% of Commercial & Industrial

Warburg Pincus LLC is believed to be in discussions to buy Charter Hall Group's 50% stake in Commercial & Industrial Property Pty. Ltd., The Australian reported.

The reported discussions are happening as Charter Hall fends off rumors that it is gearing up for the potential listing of its Charter Hall Office Trust, which owns a A$2.7 billion office portfolio, the March 13 report noted.

Commercial & Industrial, which manages A$15 billion of funds, owns 1,500,000 square meters of projects under partnerships with developers such as Charter Hall, GPT Group, Frasers Property Ltd., Goodman Group, Dexus and Telstra Super.

The paper added that if pursued, the private equity firm's potential investment in Commercial & Industrial could be carried out through its ESR Pte. Ltd. subsidiary, also known as e-Shang Redwood.

The same subsidiary is separately engaged in regular strategic discussions with Centuria Capital Group regarding plans for listed developer Propertylink. ESR acquired substantial shareholdings in both Centuria Capital and Propertylink in 2017. Centuria Capital previously made a move to acquire Propertylink, a bid that was rejected by the latter's board.