SINGAPORE (Reuters) – London-based Nithia Capital Resources Advisors LLP is seeking to acquire troubled Singapore commodity trader Agritrade International Pte Ltd (AIPL) and its shares in its Hong Kong-listed subsidiary, according to a source familiar with the matter.
FILE PHOTO: The financial district is seen shrouded by haze in Singapore September 18, 2019. REUTERS/Feline Lim/File Photo
AIPL, whose businesses span palm oil and coal, is undergoing a court-appointed restructuring after it collapsed earlier this year amid fraud allegations. It owes $1.55 billion, including $983 billion to at least 20 banks.
Nithia Capital, an alternative investment manager that specialises in turning around underperforming companies, has proposed the creat…
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