The global credit crunch has reportedly derailed another major property deal. Citing unidentified sources, newspaper the Financial Times said on Wednesday that the sale of Kenmore Property Group is not going ahead because of the current turmoil in the debt markets. Listed Australian group Mirvac was to take over the Scottish property company for some £300 mln. But the Financial Times claimed Mirvac is pulling out of the negotiation process as it is concerned about the state of the property markets.
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