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Centro new raising efforts look shaky
25-August-08
Written by AAP

Centro Properties Group says its plan to recapitalise the company won't be satisfied by asset sales alone and that its efforts to raise new equity are unlikely to be implemented in December, as it had hoped.

The shopping centre owner said it had received and evaluated a number of proposals for new equity.

"The group, consultation with its lenders, has concluded that no proposal received to date provides acceptable outcome which is in the best interests of all relevant stakeholders," it said.

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