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Article: In the can: Babcock eyes fruit co-op.(Babcock & Brown Proprietary Ltd.'s investments, Golden Circle Ltd.)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- February 27, 2005
- Author:
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb 27, 2005 (The Australian Financial Review - ABIX via COMTEX)
The Australian investment group, Babcock & Brown, is poised to make another investment. It is preparing to buy a stake in the fruit juice and cannery group, Golden Circle. The Brisbane-based Golden Circle has long been a growers' co-operative. However, it has sought private equity to reduce its debt and prepare for a float on the Australian Stock Exchange in 2008. Babcock & Brown is hoping to gain between 20% and 30% of the group. This deal is the last of many recently where co-operatives have tried to raise capital. There are still a number of successful co-operatives in the food industry, including ...