SP Setia: Sp Setia to lead a 5.5 billion pound redevelopment project in London came to a halt when lenders to the project declined its preliminary offer. SP Setia said the lenders to the Battersea Power Station development, located along the River Thames in South London , have decided not to engage further on its preliminary offer to take over the debts that amount to 300 million pound at this stage.
Had SP Setia been successful in acquiring the land, it would have had to raise 5.5 billion pound to develop the district in the central London . Though it would created a huge presence for SP Setia in London , but funding would have a challenge in the current global conditions. Since the deal has fallen through, SP Setia will probably be looking elsewhere to invest.
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