Belvedere SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Belvedere SA's Recovery Plan Approved by Dijon Commercial Tribunal
Belvedere SA announced that its recovery plan was approved by Dijon Commercial Tribunal in a judgment dated March 19, 2013. The plan involves repaying the Company's floating rate note (FRN) debt by means of a conversion into Belvedere SA shares, which will represent 87% of the share capital; repaying subordinated noteholders with warrants allowing for the purchase of a total of 10% of the share capital; awarding existing shareholders with warrants allowing for the purchase of a total of 10% of the share capital, and giving other creditors the choice of a single payment of a third of their outstanding debt or the repayment of the total sum in seven annual payments. In addition, the Dijon Commercial Tribunal approved the sale of the Danzka brand of vodka.
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