Rayet Gains Support From 57% of Lenders

7/07/2014 – Expansion

The Rayet Group has managed to accede to a convention with 57% of its lenders. The agreement awaits legal approval.

What is more, Rayet has been allowed to sell 20.8 million pledged shares (equal to a 1.24% stake) of Quabit Inmobiliaria which enhanced the firm´s liquidity on facing the insolvency process.

According  to the Friday´s stock market price of Quabit in which Rayet is the majority stakeholder, the share lot was worth of €2 million.

 

Original article: Expansión

Translation: AURA REE

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