Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Statement of Oi Creditors Regarding Fallback Bid By: Davis Polk & Wardwell LLP via Business Wire April 19, 2024 at 14:45 PM EDT In connection with Oi’s restructuring plan and ClientCo marketing process, certain financial creditors and V.Tal have reached agreement on principal commercial terms of a “fallback” bid for ClientCo that would include, as consideration, a combination of V.Tal equity and credit-bidding of obligations, sufficient to put Oi’s aggregate equity stake in V.Tal (subject to certain potential adjustments) at 27.5%. Creditors support a robust sale process for ClientCo, including Oi’s efforts to achieve a successful cash sale of the business in accordance with the restructuring plan. This bid would be submitted only in a subsequent round of bidding in the event that an approved cash sale does not occur in the initial round. Oi is not a party to any agreement with respect to this bid at this time. This statement is made on behalf of the Ad Hoc Group of Oi Noteholders. View source version on businesswire.com: https://www.businesswire.com/news/home/20240419288044/en/Contacts Katie Moss katie.moss@davispolk.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Statement of Oi Creditors Regarding Fallback Bid By: Davis Polk & Wardwell LLP via Business Wire April 19, 2024 at 14:45 PM EDT In connection with Oi’s restructuring plan and ClientCo marketing process, certain financial creditors and V.Tal have reached agreement on principal commercial terms of a “fallback” bid for ClientCo that would include, as consideration, a combination of V.Tal equity and credit-bidding of obligations, sufficient to put Oi’s aggregate equity stake in V.Tal (subject to certain potential adjustments) at 27.5%. Creditors support a robust sale process for ClientCo, including Oi’s efforts to achieve a successful cash sale of the business in accordance with the restructuring plan. This bid would be submitted only in a subsequent round of bidding in the event that an approved cash sale does not occur in the initial round. Oi is not a party to any agreement with respect to this bid at this time. This statement is made on behalf of the Ad Hoc Group of Oi Noteholders. View source version on businesswire.com: https://www.businesswire.com/news/home/20240419288044/en/Contacts Katie Moss katie.moss@davispolk.com
In connection with Oi’s restructuring plan and ClientCo marketing process, certain financial creditors and V.Tal have reached agreement on principal commercial terms of a “fallback” bid for ClientCo that would include, as consideration, a combination of V.Tal equity and credit-bidding of obligations, sufficient to put Oi’s aggregate equity stake in V.Tal (subject to certain potential adjustments) at 27.5%. Creditors support a robust sale process for ClientCo, including Oi’s efforts to achieve a successful cash sale of the business in accordance with the restructuring plan. This bid would be submitted only in a subsequent round of bidding in the event that an approved cash sale does not occur in the initial round. Oi is not a party to any agreement with respect to this bid at this time. This statement is made on behalf of the Ad Hoc Group of Oi Noteholders. View source version on businesswire.com: https://www.businesswire.com/news/home/20240419288044/en/