Goldman rejects hedge funds’ Nine restructuring plan
Goldman Sachs has rejected a counter-proposal from hedge funds Oaktree Capital and Apollo Global Management for restructuring Nine Entertainment, the Australian media company owned by CVC Capital Partners.
The hedge funds own the majority of Nine's A$2.8 billion ($2.9 billion) in senior debt, which is due in early 2013, while mezzanine funds controlled by Goldman are owed $1 billion. CVC paid A$5.3 billion...
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