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Investment cycle
The Washington Post reports that Arcapita is hoping that US chapter 11 protection will allow the company to restructure its balance sheet and provide time for reorganisation.
Arcaptia confirmed that none of the companies it owns is included in the filing. Officials said the company had sufficient funds to be able to continue operating and will only sell off assets ‘at the appropriate point in the investment cycle’.
Fading value
The company has had to face up to the fading value of its holdings, and has been forced to sell fast-food chain Church’s Chicken as well as its stake in the second most popular American coffeehouse operator, Caribou Coffee.
Arcapita claims to manage approximately $7.4bn worth of investments, including real estate holdings and several companies across the globe.
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