• Most Popular
  • Most Shared

No end yet to Arcandor refinancing talks - papers

Fri Sep 19, 2008 2:56am EDT

Stocks

   

FRANKFURT, Sept 19 (Reuters) - Refinancing talks between German retail and tourism group Arcandor (AROG.DE) and its banks are likely to stretch into next week, German newspapers said on Friday, although the company has previously indicated they could be concluded this week.

Citing financial sources, German financial dailies Handelsblatt and Financial Times Deutschland said talks were more difficult than expected, leading to the delay in reaching a conclusion.

Arcandor is currently negotiating a refinancing of part of a credit facility with a consortium of Dresdner Bank (ALVG.DE), Commerzbank (CBKG.DE) and BayernLB [BAYLB.UL] but has declined to give details on the amount involved.

A company spokesman said recently that talks would be finalised by the end of the week. On Thursday, the company said it expected to reach a conclusion soon.

Arcandor was not immediately available for comment on the reports. (Reporting by Eva Kuehnen; editing by Rory Channing)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets