Business Services Industry
Austar clicks on to new owners.
Australasian Business Intelligence, April, 2003
Apr 22, 2003 (The Daily Telegraph - ABIX via COMTEX)
Castle Harlan Australian Mezzanine Partners (CHAMP) has launched a bid for Austar United Communications. CHAMP has an 80.7 per cent stake in Austar, with UnitedGlobalCom (UGC). Austar's other major shareholder, United Australia Pacific, filed for Chapter 11 bankruptcy protection in the US in 2003. CHAMP's bid offers investors $A0.16 for Austar's remaining shares. CHAMP and UGC plan to raise $A63.5 million in working capital once the deal is completed. CHAMP director David Jones said that Austar might be privatised. Austar's CEO John Porter and his management team will continue business operations.
Publication Date: 23 April 2003
AUSTAR UNITED COMMUNICATIONS LIMITED
- ASX AUN:...
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