Quintain Estates and Development said that it had extended its short-term debt facility from 2010 to 2013 and had reduced costs by 25% and expects to avoid breaching banking covenants after the rate of decline in asset valuations 'significantly reduced' in the last quarter. It also confirmed that it is in exclusive talks with a preferred bidder for the sale of its stake in the O2 Arena.
The Times, Daily Telegraph
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