Sydney-listed infrastructure and property asset manager Babcock & Brown has extended the suspension in trading of its shares as it struggles to reach an agreement with its lenders to stave off bankruptcy.
Sydney-listed infrastructure and property asset manager Babcock & Brown has extended the suspension in trading of its shares as it struggles to reach an agreement with its lenders to stave off bankruptcy.
The troubled company said in a statement on Monday that the halt in trading of its shares was necessary as it had not received a final response on its proposal for a debt-for-equity swap with a syndicate of 25 banks.
Babcock & Brown said it expected that the suspension will end when the company is in a position to announce more about the outcome of the talks, which is expected to be in the week of January 26.
