Carlyle Fund Expects Assets Will Be Seized |
| New York Times - Mar 13, 2008 |
Shares of Carlyle Capital plunged on Thursday, losing most of their value, after the company said it expected its lenders to promptly take over all its assets after discussions with banks to refinance the fund failed.
Carlyle Capital, an Amsterdam-listed affiliate of the Carlyle Group, the private equity fund, said it “has not been able to reach a mutually beneficial agreement to stabilize its financing.” Its shares fell more than 70 percent Thursday. They have fallen more than 90 percent since the company’s problems became public last week.
“It has become apparent to the company that the basis on which lenders are willing to provide financing against the company’s collateral has changed so substantially that a successful refinancing is not possible,” Carlyle Capital said in a statement late Wednesday.
Read Full Article from New York Times
- Posted: 2008-03-13 09:56:36
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