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High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email email@example.com to buy additional rights. www.ft.com... The company is working with Rothschild, its long-term advisers, to negotiate over the issue with its 17 banks. There is no suggestion that Bakkavör, which has net debt of about £400m, is suffering from any liquidity problem. Bakkavör said on Monday that the deposit was fully protected by the Iceland Depositors and Investors Guarantee Fund. Rothschild was unavailable for comment.
The Icelandic-headquartered company, which has operations across the UK, is also working with Rothschild. The investment bank is believed to be assessing options for about £250m of debt that will need refinancing over the next two years.
It also disclosed it had appointed NM Rothschild as advisors in discussions with lenders on renewing its main credit facilities.
The group is also trying to reduce its 880m [pounds sterling] debt, appointing Rothschild to look at ways of reducing its liabilities.
£1.45bn acquisition of Iceland Foods Group Limited by Iceland management and co-investors 9 March 2012 - Rothschild has acted as the financial adviser to the core Iceland management team and its co-investors, including founder Malcolm Walker, on the £1.45bn acquisition of Iceland Foods Group Limited (Iceland Foods). Rothschild provided integrated M&A and financing advice on valuation, commercial terms and hedging strategies, as well as the identification of and approach to co-investors and the arrangement of fully underwritten debt finance. Rothschild’s involvement with Iceland Foods extends almost 30 years, having originally advised the company on its listing in 1984. Rothschild has a strong track record in the retail sector, and in 2011 advised on more European retail M&A deals than any of its competitors.
Originally posted by PlanetXisHERE
Originally posted by xuenchen
Why hasn't #Occupy pushed this ???
it's right up their alley.
and it's genuine for a change.
They might have, but we'd probably never know through the MSM - the MSM wouldn't air this story.
But then again there is the alternative media.
The fact that OWS hasn't pushed for this type of action tells me either:
a) OWS is disorganized and not that intelligent and/or they don't understand the real issues
b) OWS is just a big psy-op designed to hoodwink us in thinking some people care about the issues and are doing something about it so we can be lazy and not take any action ourselves - when the reality is OWS has really accomplished nothing - people's awareness of financial incompetence and corruption was awakened in the wake of the fall of Lehman and the resulting crash AND bailout which all went to the bankers and the subsequent revelation of additional huge bailouts. If anyone in the US or the world needs OWS to inform them of the dangers of the world's financial systems - they are really tuned out/brainwashed.edit on 21-6-2012 by PlanetXisHERE because: correction