Newspaper article The Evening Standard (London, England)

Macquarie Frozen amid Chunnel Talks

Newspaper article The Evening Standard (London, England)

Macquarie Frozen amid Chunnel Talks

Article excerpt

Byline: ROBERT LEA

SHARES in Macquarie were suspended today after it emerged the giant Australian finance house is at the centre of a deal to rescue Eurotunnel - and, separately, could also become the new owner of London City Airport.

Macquarie said its stock was suspended in Sydney pending an announcement likely to be detailed in full-year results out tonight.

The news came as Eurotunnel finally admitted it had turned to Macquarie and Goldman Sachs - two of the most high profile would-be deal-doers in the London market at present - in a last desperate attempt to save the Channel Tunnel operator from bankruptcy.

Eurotunnel's latest "final" deadline to come to an agreement with creditors owed [pounds sterling]6 billion passed today with no deal done and the subsequent suspension of the stock on the London and Paris bourses.

But Eurotunnel told shareholders it is in "advanced negotiations" with parties which it formally admitted for the first time include Macquarie and Goldman. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.