KEY POINTS:
The sale of Australia's biggest equipment hire company, Coates Hire, faced delays partly due to the turmoil in global credit markets, sources said yesterday.
The deadline for final bids has been postponed to August 25 from August 14, giving the mix of private equity firms and trade buyers more time to accurately value the company and raise debt from their lender bankers to fund an acquisition.
Carlyle Group was the first bidder to approach Coates Hire, after which management started an auction.
