Mexican homebuilder Geo says begins restructuring process

MEXICO CITY, April 12 Fri Apr 12, 2013 3:11pm EDT

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MEXICO CITY, April 12 (Reuters) - Mexican homebuilder Corporacion Geo, struggling under a heavy debt load and sinking sales of its low-income homes, said it is starting a restructuring process.

The company said it hired advisers Fians Capital to help with the restructuring.

Geo shares were down 5 percent in afternoon trading.

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