centro directors face ire..., page-6

chrisec,

the support issue from bankers is an "aside". THe issue is that CNP packaged up the deal in a non-marketable format. They wanted management contracts retained. They also bundled multiple properties together trying to sell them in parcels of hundreds of millions to a billion dollars at a time. Think about the current economic climate! This is the part that was a grave mistake.

There are plenty of buyers who can pay 15-20-30 million for a property. THere are not many that can meet an asking price of $1.1 billion.

Kudos to the bankers for at least standing by CNP (even though they kind of have to....for now).