28
Aug
09:55
Noble Group shareholders approve restructuring plan
Ailing trading house Noble Group is one step closer to carrying out restructuring after shareholders approved its reorganisation plan. The plan is still being opposed in some quarters however, Kallanish notes.
Shareholders voted 99.96% in favour of the restructuring after dissenters agreed to the adjusted deal earlier in June. The latest version of the plan would see creditors given 70% of the company in a $3.5 billion debt-for-equity swap, while exist…
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Very good overview of the weekly steel market.
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