UPDATE 1-M'bishi Estate bidding for Nippon Residential - Nikkei
May 9 (Reuters) - Mitsubishi Estate Co (8802.T: Quote, Profile, Research), is among the four remaining candidates bidding for Nippon Residential Investment Corp (8962.T: Quote, Profile, Research), the real estate investment trust under failed property firm Pacific Holdings Inc., the Nikkei business daily said.
The paper said Nomura Real Estate Development Co and Itochu Corp (8001.T: Quote, Profile, Research) were also among the remaining bidders, but did not name the fourth bidder.
Six domestic and foreign companies participated in the first round of bidding late last month. The competition is now down to four domestic firms, with the winner likely to be decided by the end of June, the daily said without citing sources.
Pacific Holdings filed for bankruptcy protection in March.
Nippon Commercial Investment Corp (3229.T: Quote, Profile, Research), another REIT under that firm, is also looking for a sponsor, the Nikkei said. (Reporting by Ashutosh Joshi in Bangalore; Editing by Jarshad Kakkrakandy)
© Thomson Reuters 2009 All rights reserved
One Year Later
Mumbai's police paraded past some of the city's landmarks in a show of strength as the city marked the first anniversary of militant raids that killed 166 people Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
