And now its owners KKR and China Resources have written cheques of $75 million and $85 million respectively to try and restore lenders confidence. (It’s also got a deal on the boil to hive off its cardiology unit to Adamantem Capital).
Elsewhere, we’ve got updates on two deals that went quiet.
Australian oncology group GenesisCare’s big shareholders have pledged to tip in an extra $160 million into the company in a bid to calm lenders’ nerves.
It’s been a busy start to the year for bank hybrid investors with brokers hitting them with one big deal after the other, but things are about to go quiet for a long time after Commonwealth Bank delivers a $3 billion encore in December.
NSW has cancelled plans to sell the state’s $500 million a year lotteries duties, leaving Australian and offshore pension funds searching for the next $15 billion opportunity.
You have received this email because you are subscribed to Street Talk First Look with the email address: [email protected]