centro chief hoping for white knight...

Source: www.abc.net.au/news

Centro chief hoping for white knight rescue
Posted 32 minutes ago

The boss of shopping centre owner Centro Properties Group says the company is still trying to find a white knight investor to help rescue the group.

Centro has reported a loss of more than $2 billion after a fall in property values and asset write-downs.

Chief executive Glenn Rufrano says the company has had discussions which could lead to a hopeful bail out.

"There have been private equity firms that have raised capital around the world - United States, Canada, Asia - and a number of those private equity firms were in negotiation with us at various times over the last few months," he said.

"We have also had some government-related investment arms that we've had discussions with and we've had some operating companies."


Ends.

Cheers, Pie :)