Mriya Creditors Seek New Management in $1 Billion Restructuring
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Mriya Agro Holding Plc’s creditors said they plan to replace the Ukrainian farmer’s management by the end of next week as talks to restructure about $1 billion of debt falter.
“The planned management change will only be for top positions and will aim at minimizing any changes for the business,” a group of bondholders and lenders owning 60 percent of the company’s debt, said in an e-mailed statement. “It will broadly rely on existing professionals at Mriya to ensure business continuity process and to preserve jobs.”