centro told to sell assets, page-5

Thanks for posting the article trader_10

This would have to be one of the worst peices of Journalistic crap I have seen in a long time.

He said, she said, they said, banks said, instos said.

WHO Said.... specifically NO One Said anthing!!!

Centro told to sell assets - By WHO?

BANKERS to the debt-ridden Centro Properties Group - What Bankers?

The Herald understands - Nothing!

But it is understood that the banks, which are owed almost $4 billion in short-term debt, of which at least $2 billion loaned by its Australian lenders needs refinancing before April 30, want to see a greater commitment towards more asset sales. - WHO specifically?

But institutional investors said last week - I bet they did, they want movement.

Brokers said although four parties - Mirvac, Mulpha, GE Capital and Blackstone - had expressed interest in conducting further due diligence on the business, they were not necessarily the frontrunners. - So who is?

The deadline for expressions of interest in the two funds was last week. - DOH Really!

Unwillingness on the part of potential buyers for Centro's holdings in the funds, of which the group intends to hang on to the management rights, and its plunging share price are said to be complicating the negotiations over the company's future. - WHO?

Centro
global credit crisis
stratospheric levels
debt-backed acquisition
Centro's financial crisis
US economy's plunge towards recession.

Nonetheless, Centro's competitors and potential buyers have all said they would prefer to buy separate assets rather than what is currently being offered. - WHO, Who said what?

Journalistic crap on behalf of instos to get an announcement... What a rag!

IMO There is nothing credible here.
Dutchy