Bankers were nearing a deal on Wednesday night to provide a cash injection to Connaught, the stricken UK social housing maintenance company, reports the FT. A syndicate led by RBS and including Barclays and Lloyds Banking Group was in talks with Connaught and an announcement could come as soon as Thursday, although there was no guarantee the funds would be provided, said people close to the talks. The Telegraph meanwhile reports that hedge fund Parvus is nursing steep losses on its Connaught holding.

This entry was posted by Gwen Robinson on Thursday, July 29th, 2010 at 4:53 and is featured in The 6am Cut London (29 Jul 2010) . Tagged with Connaught, parvus. Edit this entry.