Babcock Races to Restructure Under Heavy Pressure

By DEALBOOK, 
Published  2008-11-19 05:12:45
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Babcock & Brown, the struggling Australian infrastructure investment firm, said that it will cut more jobs, sell more assets and restructure its businesses to avoid defaulting on A$3.1 billion ($2 billion) of debt, Bloomberg News reported. The investment firm’s shares have plunged 99 percent this year amid concerns that its business model — borrowing heavily to [...]
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