By  on June 4, 2014

PARIS — Vivarte said it has reached an agreement with a group of 12 lenders to reduce its existing debt of 2.8 billion euros, or $3.8 billion at current exchange, to 800 million euros, or $1.1 billion.

The remaining 2 billion euros, or $2.7 billion, of debt are to be converted “into equity and quasi-equity instruments, so that current lenders will become shareholders at the end of the restructuring process,” the company said.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus