The statement again confirmed that GFG Alliance had reached a formal standstill agreement with Credit Suisse Asset Management over LPMA debts related to Greensill bonds, which will enable the business to complete full refinancing. And it confirmed that the deal with US private equity firm White Oak Global Advisers to refinance LPMA which includes the…
The clarity of purpose created by this change will protect shareholder value, enabling each business to focus on their respective strategic opportunities and challenges presented by the accelerating energy transition. Shareholders will get one share of each new business for each AGL share they currently hold. The demerger plan, first flagged by then-CEO Brett Redman…
Image counts for everything in the current climate, as travel agencies look to reassure their customers they can handle their bookings as economies start to recover. And company travel managers will be seeking guarantees from them that they can cope with a surge in activity as travel restrictions lift, particularly as governments wind down their…
Hurricane Energy, the oil and gas producer once considered a bright hope for the UK North Sea, has failed to push through a controversial financial restructuring that would have virtually wiped out its shareholders. The UKs High Court ruled on Monday it would not sanction the plan, which would have handed control to Hurricanes bondholders…
Few leadership manuals cover the task of taking charge of a global business at the bottom of a cycle during a pandemic that has devastated core markets. In that environment, even basic logistics are challenging in a way that would have been unimaginable in pre-crisis times. For recently appointed Swissport International chief executive Warwick Brady,…
As millions of Australians return to the nightmare scenario of lockdowns, the financial industry has come together to offer COVID support packages to customers and businesses. CBA have announced a raft of measures to help their customers: SME customers ill have fees waived and access to deferrals on asset finance and some business loans, while…
SINCE the onset of the Covid-19 pandemic last year, many businesses have been faced with challenges to sustain their operations. On the flip side, opportunities abound in certain sectors, and some have experienced exponential growth and prospered as a result of the pandemic. Regardless of which side of the coin you are on, restructuring or…
We asked insolvency experts Tyrone Courtman and Mike Jervis to talk about the issues facing businesses that have survived the pandemic but remain in financial distress. What are the options for businesses that have been hanging on by a thread during the pandemic, but now face the prospect of failure as government support is scaled…
By Ian Walker X5 Retail Group NV said Thursday that it is reviewing options for a restructuring of its digital business into a separate unit within the group, as part of its 2021-2023 strategy. The Russian food retailer said options being considered include attracting public market investors, establishing a strategic partnership and growing the businesses…
In the context of Chinas continued growth story despite COVID-19, we look at how businesses invested in the region can strategize to survive and succeed. The purpose of restructuring in China should go beyond survival from the health crisis. Enterprises in all sectors and industries in China must plan for the next phase when choosing…