By The Royal Gazette
June 28, 2023
Corporate restructuring under Bermuda law appears to have given the Digicel Group a new lease of life, allowing the telecom provider to continue operations as usual.
Bond investors signed a deal that strips founder and chairman Denis O’Brien of most of his stake in the telecoms group in exchange for a $1.7 billion debt write-off.
The restructuring deal, which has been a few months in the making, will probably take a few more months to complete, but will leave Mr OBrien with a board seat and eventually 10 to 20 per cent of the company, The Irish Times is reporting.
The news group said the restructuring is on track to be completed in a scheme of arrangement carried out through the Bermuda courts and rubbe…
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