Centro Properties Group, the shopping mall owner seeking a debt extension to stay in business, canceled the sale of a Sydney shopping center after failing to find a buyer.
No ``satisfactory offers'' were received for Centro Bankstown before the August deadline, Centro said in a Sept. 4 letter, posted on its Web site, to members of its MCS 28 Syndicate, owner of 50 percent of the shopping mall.
Centro Chief Executive Officer Glenn Rufrano, 58, is trying to sell assets and raise cash to help repay as much as A$6.6 billion ($5.4 billion) of debt. The company said last month it may offer lenders securities convertible into shares in lieu of borrowings, affecting shareholders.
- August 21, 2008, Centro Posts $299M Loss
- July 16, 2008, Centro Clears Minor Hurdle With First Asset Sale
- July 1, 2008, Centro to Sell Five Australian Malls
- May 29, 2008, Report: Centro Close to Big Sale
- May 14, 2008, Centro's Shield
- May 9, 2008, Centro Reaches Debt Agreement, Shares Surge
- April 3, 2008, Centro Takeover Rumors Cause Share Surge
- April 1, 2008, Centro Clears a Hurdle
- Feb. 29, 2008, Report: Blackstone, GE, Mulpha, Mirvac Bidding for Centro.
- Feb. 28, 2008, Centro Shares Surge
- Feb. 15, 2008, Centro Wins Extension
- Jan. 15, 2008, Scott Out, Rufrano In at Centro
- Jan. 10, 2008, Daily Centro Update
- Jan. 9, 2008, UBS Cuts Stake in Centro
- Jan. 3, 2008, Centro: Morgan Stanley, Westfield Have Approached Firm
- Jan. 2, 2008, Centro Says Its Getting Offers
- Dec. 18, 2007, Another Round of Centro Coverage
- Dec. 17, 2007, Centro Hit by Credit Crunch