Deals
Irish Billionaire Coulson in Talks to Give Up Part of Ardagh
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Ardagh Group SA is in talks with its creditors for a debt restructuring deal that would see Irish billionaire Paul Coulson lose control of part of the business.
Under the plan, a group of unsecured bondholders will take over Ardagh’s glass packaging operations in exchange for a write down of their holdings. The creditors will also provide fresh financing and get a stake in the metal packaging arm, which is listed in the US, according to a statement on Tuesday.