Strategic Finance MBO on cards
Strategic Finance's Australian parent company has confirmed an MBO of the company is currently being discussed.
Friday, 27 June 2008
No formal agreement has been reached after "high-level discussions with a consortium of management and other parties," Allco said.
Strategic, a New Zealand-based property finance company, this week said it was undertaking "an intensive review of its business." The review covers provisioning, liquidity and doubtful debt levels, which may be at higher levels than previously reported.
The yield on Strategic's perpetual preference shares was last quoted at 35%.
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