The show will go on as Ster Kinekor exits business rescue

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The business recue transaction involved capital raising of R250m from local and international asset managers

Almost two years after it voluntarily entered business rescue, entertainment company Ster Kinekor announced on Friday that its business rescue practitioner, Stefan Smyth, had successfully concluded the process.

The transaction, which returns the company to solvency, involved the capital raising of R250m from the UK based asset manager Blantyre Capital and from the SA asset manager Greenpoint Capital, and forms the basis of the business rescue plan, the company said in a statement...

 

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