INM pushes for debt deal ahead of South African sale
The €170 million deal to sell Independent News & Media's South African business is unlikely to get the go-ahead from shareholders unless the banks cut a deal on debt.
The €170 million deal to sell Independent News & Media's (INM) South African business is unlikely to get the go-ahead from shareholders unless the banks cut a deal on debt, The Sunday Business Post understands.
INM has debts of €430 million, and its lenders are keen to reduce their exposure to the media company. Getting a net payment of €160 million from the South African deal would significantly reduce those borrowings and give some comfort...
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