Dan Diehl, Paul O’Malley & Lou Ronsivalli.
Lenders Assume Control of Interserve15 March 2019 / by FM Editor (author) / London
The move which removes the risk of a Carillion-style collapse and secures up to 65,000 jobs worldwide in the short term, follows the rejection by shareholders of a rescue plan that would have deleveraged an estimated £485 million of debt and injected £110 million of fresh working capital.
Interserve Chief Executive, Debbie White, is expected to be retained by the new company which is owned by major banks and hedge funds, including RBS, HSBC, Cerberus, Emerald Asset Management and Davidson Kempner Capital.
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