I have difficulty in seeing how Centro can spin off
their services business unless, of course, they can
get enough for it that they can keep the banks off
their backs for the forseeable future.
As Dreamcatcher1 one suggests
"The new entity would expect Centro to commit to long-term
management contracts over its shopping centre assets
otherwise the business would be worth nothing."
I guess the big question is "Could they get enough
for the services business and, if so, what proportion
could they keep?" and still keep the banks happy.
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