Ster-Kinekor business rescue plan approved

  • 📰 mybroadband
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 67%

United States News News

United States United States Latest News,United States United States Headlines

Ster-Kinekor Theatres will be taken over by Blantyre and Greenpoint Capital after shareholders and creditors voted in favour of its business rescue plan.

Ster-Kinekor Theatres’ business rescue practitioner Stefan Smyth has announced that the company’s creditors and shareholders have approved and adopted a business rescue plan that will see it get a R250-million senior debt facility from investors, Blantyre Capital and Greenpoint Capital.

“Suspensive conditions of the purchase by Blantyre Capital and Greenpoint Capital include amended commercial lease agreements, to be agreed with landlords and any regulatory or other approvals where applicable,” Smyth explained. “The BRP can then terminate the business rescue proceedings and transfer the shares in SKT to the investors,” he added.

Smyth said he was delighted at the overwhelming support from creditors and shareholders for the plan for Ster-Kinekor.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

It’s one of SA’s worst companies. They don’t advertise. Never make use of their database (which is massive). Closed Cinema Nouveau without acknowledging that clientele in any kind of way. It’s such a waste.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ford and other companies could pull investments from South Africa: finance ministerFinance minister Enoch Godongwana says South Africa needs to urgently improve its business and service delivery conditions, or risk losing significant business investments.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

SIU wants 506 companies and individuals blacklisted by TreasuryThe individuals or companies are not allowed to do business with the state in any capacity. When is the the SIU gunning for Ramaphosa Son company which benefitted illegally from state coffers? Why the people in government are allowed to do business with government? And when are government officials who are responsible for mismanaged and over priced contracts going to be charged? Officials should be aware of comparative prices and contracts before being allowed to work with tenders and money.
Source: TimesLIVE - 🏆 28. / 59 Read more »