Debt-ravaged Ascendis Health warned on Wednesday that it will enter business rescue if shareholders shoot down its recapitalisation programme in coming months.
Should this occur, shareholders may get little to no value back for their shares if there is a fire sale of distressed assets, CEO Mark Sardi said, who described the business in relation to its debt as “like driving a Ferrari with its handbrake on”...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
ronniedog2 How do you allow a debt of R6.6bn The warning signs should be there at least by R100million for such a big company
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Ascendis warns of business rescue over restructuringThe group is battling with R6.6bn net debt burden, and an expensive debt structure, prompting recapitalisation talks with lenders 🔒
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