Chinese Developers Want To Buy Half Of Meriton From Harry Triguboff for $3 billion

Harry Triguboff has been building his company Meriton for the best part of 50 years. The 81-year-old is also on the record as saying he never wants to retire.

But the AFR reports this morning that he is considering an offer he received two weeks ago from a Chinese developer who builds 200,000 units a year to buy half of Meriton for up to $3 billion dollars.

Triguboff told the AFR:

I am thinking I could sell part of [Meriton],

It is very early stages, but I could be prepared to sell the development part of the business and then the family could continue to collect the rent on the units I already own. Maybe I could retire soon and they could run the investment business.

Triguboff also said that he would only sell if the staff who work for him now are protected in the deal.

“I am not selling anything if they are going to start firing people… Other people think about shareholders, well, I think about my people”

You can read more here

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In