Arash Massoudi and Nic Fildes in London and Harriet Agnew in Paris January 10, 2018 Shares in Altice NV, the acquisitive global telecoms group that is fighting to shore up investor support, dropped more than 7 per cent on Wednesday, as analysts focused on a revenue warning that overshadowed plans to break up the company.…
by Julia Payne and Ahmad Ghaddar Noble Group is closing down its London oil desk and winding down its Asia oil operations, sources familiar with the matter said, as heavy losses and high debt force what was once Asia’s biggest commodities trader to restructure. The closures follow the sale of its larger US oil trading…
JOHANNESBURG – Old Mutual is a step closer to restructuring its business after it was given the green light yesterday by the Competition Commission, on condition that it allocate R500 million to a new ring-fenced Enterprise Supplier Development Fund. Old Mutual Emerging Markets (Omem) said yesterday that the recommendation for approval by the Competition Commission to…
Shares of Magma Fincorp gained 3.5 percent intraday Wednesday as IIFL initiated coverage on the stock with buy rating for a target at Rs 220 per share. The firm believe that the companys business performance is at an inflexion point. The larger part of business restructuring is complete, while the disbursements growth is gradually improving,…
George Osbornes favourite burger chain is expected to close at least 15 restaurants under a restructuring plan. Byron, where the burgers are as posh as the former chancellor, has 67 restaurants plus nine non-operational leasehold sites, but it has struggled in a competitive market. It has submitted proposals to its landlords and other creditors seeking…
Image copyright Getty Images Burger chain Byron could close up to 20 restaurants as part of a financial rescue proposal. Accountancy firm KPMG, which is handling the restructuring, confirmed the plan, which would also involve cutting rent payments at other outlets. Any deal would need approval from Byron’s creditors, who will vote on the plan…
Arash Massoudi in London, Shannon Bond in New York and Harriet Agnew in Paris January 9, 2018 Altice NV shares climbed 10 per cent Tuesday after the struggling global telecoms and cable group unveiled a wide-ranging organisational shake-up and restructuring to allay concerns that have sent its stock tumbling in recent months. The gains came in response…
NEW YORK (Reuters) – Lenders to U.S. mid-sized businesses are increasingly concerned about the higher levels of debt held by middle market companies versus a year ago, as well as what they consider to be less restrictive leveraged loan documents, a survey by Carl Marks Advisors found. Higher leverage levels and borrower-friendly loan agreements, the…
Trouble burger restaurant chain Byron has announced a financial rescue plan that could close up to 20 shops a decade after it first opened its doors. The company has launched a restructuring process known as a company voluntary arrangement (CVA) as it tries to lower its rental bill and focus on a smaller number of…
NEW YORK (Reuters) – Lenders to U.S. mid-sized businesses are increasingly concerned about the higher levels of debt held by middle market companies versus a year ago, as well as what they consider to be less restrictive leveraged loan documents, a survey by Carl Marks Advisors found. Higher leverage levels and borrower-friendly loan agreements, the…