Oaktree ups stake in New Zealand's MediaWorks
Oaktree Capital has increased its stake in New Zealand broadcaster MediaWorks to 43%, after acquiring a 14.6% stake from Dutch lender Rabobank. The transaction took place the same day lenders completed their recapitalization of MediaWorks, reducing its debt to NZ$100 million ($83.2 million) from NZ$700 million.
Oaktree was among a group of creditors, including TPG Capital, that assumed control of MediaWorks back in August after the company - then owned by Ironbridge Capital- went into receivership. According...
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