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Business Events Corporate Restructuring

  • SAO PAULO, Nov 10- Phone carrier Oi SA, which in June filed for Brazil's largest ever in-court reorganization, has hired financial advisory firm Laplace Finanças to help restructure about 41.2 billion reais in debt with banks and bondholders, a person with direct knowledge of the matter said on Thursday. The board of Rio de Janeiro- based Oi formalized the hiring...

  • SAO PAULO, Nov 9- The board of Brazilian wireless phone carrier Oi SA has elected a new financial advisor for debt restructuring talks with bondholders and bank creditors, Chief Executive Officer Marco Schroeder said in an interview Wednesday. Schroeder declined to name the advisor, which will replace PJT Partners, because the contract has not been signed.

  • *Announces share buyback of 550 mln euros. DUBLIN, Nov 7- Budget airline Ryanair raised its long-term passenger growth forecast by 10 percent on Monday to 200 million travellers a year by 2024, saying it planned to take advantage as intense fare competition forces higher-cost rivals to retrench. "We have EU incumbents retrenching, restructuring... creating more...

  • ING Group's plans to shed 7,000 jobs and invest in its digital platforms to make annual savings of 900 million euros ($1 billion) by 2021, drew swift criticism from unions.

  • BRASILIA, Nov 1- Brazil's state-run oil company Petrobras is seeking to stop renting a drillship from engineering conglomerate Grupo Schahin, in a potential blow to Schahin's restructuring plan, newspaper Folha de S. Paulo reported on Tuesday. Petroleo Brasileiro SA, as Petrobras is formally known, has already notified Schahin about the potential rescission,...

  • BRASILIA, Nov 1- Brazil's state-run oil company Petrobras is seeking to stop renting a drillship from engineering conglomerate Grupo Schahin, in a potential blow to Schahin's restructuring plan, newspaper Folha de S. Paulo reported on Tuesday. Petroleo Brasileiro SA, as Petrobras is formally known, has already notified Schahin about the potential rescission,...

  • CHICAGO, Oct 28- Paragon Offshore Plc said on Friday it was evaluating its options after a U.S. judge rejected the offshore rig contractor's plan to exit bankruptcy, an unusual setback for a corporate Chapter 11 proceeding. In an oral ruling in U.S. Bankruptcy Court in the District of Delaware, Judge Christopher Sontchi said the plan was not feasible because it...

  • MUNICH, Germany, Oct 28- German industrial gases group Linde is not considering reviving merger talks with rival Praxair, its outgoing chief executive told Reuters on Friday. "Praxair is not a live issue for us," Wolfgang Buechele said after the company presented a new restructuring plan involving thousands of job cuts, a likely exit from some markets and the...

  • The firm reported strength from its restructuring business, which nearly doubled from a year ago to $51.27 million. Distressed debt and bankruptcy restructuring deals around the world jumped 67 percent to $168.4 billion during the first nine months of 2016, according to Thomson Reuters data. Net income attributable to Lazard was $112.5 million, or 85 cents...

  • The firm reported strength from its restructuring business, which nearly doubled from a year ago to $51.27 million. Distressed debt and bankruptcy restructuring deals around the world jumped 67 percent to $168.4 billion during the first nine months of 2016, according to Thomson Reuters data. Net income attributable to Lazard was $112.5 million, or 85 cents...

  • FRANKFURT, Oct 27- Deutsche Bank chief John Cryan pledged to redouble restructuring efforts on Thursday, warning that the bank faces tough times ahead as it finalizes talks with U.S. justice authorities over a multi billion dollar fine. Germany's biggest lender earlier posted an unexpected quarterly profit, benefiting from a modest rebound in bond trading,...

  • Fees from Lazard's restructuring business nearly doubled to $51.27 million, helping the company report a 3.8 percent rise in financial advisory revenue. Distressed debt and bankruptcy restructuring deals around the world jumped 67 percent to $168.4 billion during the first nine months of 2016, according to Thomson Reuters data. Net income attributable...

  • FRANKFURT, Oct 27- Deutsche Bank chief John Cryan pledged to redouble restructuring efforts on Thursday, warning that it faces tough times finalising talks with U.S. justice authorities over a multi billion dollar fine. Germany's biggest lender earlier posted an unexpected quarterly profit, benefiting from a modest rebound in bond trading, but failed to...

  • NAIROBI, Oct 26- Kenya Airways needs to extend debt repayments and make other changes to restructure its balance sheet, which would take priority over finding a strategic partner, the new chairman of the loss-making airline told Reuters. The appointment of veteran telecoms executive Michael Joseph as chairman has also lifted sentiment.

  • LONDON, Oct 26- The yield on Mozambique's restructured "tuna bond" hit a record high on Wednesday after the government said debt levels were unsustainable, while emerging equities slipped from two-week highs, tracking falls in developed markets. Mozambique's finance ministry warned creditors the government must renegotiate repayment terms if it is to agree...

  • CHICAGO, Oct 25- Hedge fund Trilogy Capital Management, the last holdout bondholder of Caesars Entertainment Corp's bankrupt operating unit, has agreed to support the casino group's restructuring and halt litigation, a court filing showed on Tuesday. While Trilogy's claim was small at $9.4 million, a judgment could have blown up a crucial $5 billion...

  • LONDON, Oct 25- London- listed Xcite Energy is set to go into liquidation after bondholders rejected a restructuring plan for the North Sea oil developer, the company said on Tuesday. Ian McLelland, global head of natural resources at Edison Investment Research, said that the announcement was a blow to both the company's share and debt holders as well as to the...

  • *Etisalat conducts due diligence on data centre. DUBAI, Oct 25- Dubai technology company Pacific Controls, which is seeking one of the biggest debt restructuring deals in the Gulf since the economic slowdown, is in talks to sell its data centre in the emirate to telecoms company Etisalat, four sources said. Pacific Controls, which needs to raise cash in its effort to...

  • *Etisalat conducts due diligence on data center. DUBAI, Oct 25- Dubai technology company Pacific Controls, which is seeking one of the biggest debt restructuring deals in the Gulf since the economic slowdown, is in talks to sell its data center in the emirate to telecoms company Etisalat, four sources said. Pacific Controls, which needs to raise cash in its effort to...

  • *Approval will avoid Spain's biggest ever bankruptcy. MADRID, Oct 25- Renewable energy firm Abengoa is on track for the 75 percent creditor approval needed for its restructuring plan and avoid filing for Spain's biggest ever bankruptcy, a source with knowledge of the deal said on Tuesday. Abengoa's creditors include Spain's Santander and Caixabank,...