Grant Rumbles, chief executive of Mouchel, said: "The completion of this restructuring means that the long-term future of this business is secure and the jobs of more than 8,000 people have been preserved.
However, it is understood that the on-off talks have gathered momentum again now following the completion of financial restructuring at the Independent's owner, Independent News & Media, and the settlement of the boardroom battle there between shareholder Denis O'Brien and Gavin O'Reilly, the chief executive.
Mouchel said the acquisition "marks the completion of the group's financial restructuring and provides the business with a strong financial platform for the future".
The finance ministers praised Greece's progress but held off giving final approval, saying it wanted to see "a few pending implementing acts" passed in Athens and the completion of a debt restructuring deal with the country's private creditors, which intends to cut about 100 billion euros from its load.
Executives had the idea more than a year ago, Mr. Ruggiero said, but put off any action until the completion of a group restructuring, which involved Telecom Italia's merging with its parent company.
This will allow us to accelerate the completion of our aggressive restructuring plan for long-term, sustainable success.
Mr. Benhamou said Palm had worked off much of its excess inventory and was nearing completion of its restructuring.
On Thursday the debt-laden company said it was suspending payments to its lenders pending completion of its restructuring, and warned its shares could be worthless.
The Restructuring is conditioned upon the successful completion of the Company's previously announced spin-off from Time Warner Inc. (the "Spin-off"), as well as the approval of the Company's new Board of Directors that will begin service in connection with the Spin-off.
"You should see some positive benefit in the [first-quarter] earnings as a result of the restructuring program," Zaret says, noting the successful completion of a $1.1 billion cost-cutting program put into place in 1999 and 2000.
Upon completion of the acquisition in October 2010, 3G began an immediate restructuring of the company.
