The British telephone equipment maker Marconi, whose fortunes have spiraled downward since the late 1990's, said it would further delay the completion of a complex debt-for-equity restructuring until May 31.
Shares in cable company United Pan-Europe Communications UPCC) fell in heavy volume after bond holders in its parent UnitedGlobalCom, which is being acquired by Liberty Media, agreed to a change that would speed up debt-for-equity restructuring, analysts said.
The company said it planned to reorganize through a debt-for-equity restructuring agreement with Golden Gate Capital, a San Francisco private equity firm, and emerge as a privately owned company.
PacSun said it planned to reorganize through a debt-for-equity restructuring agreement with Golden Gate Capital, a San Francisco private equity firm that counts restaurants such as California Pizza Kitchen and retail brands including Eddie Bauer as part of its portfolio.
RTL has previously dismissed reports that it tabled an offer for Endemol in November, although it is thought that the company has had a keen eye on what the Dutch production company's shareholders decide to do when the final details of a protracted debt-for-equity restructure is complete.
The conventional wisdom, of course, is that G.M. was turned around by a group of White House-imported private equity and restructuring experts, "Team Auto," led by Mr. Rattner.
Indeed, G.M.'s turnaround should become a case study for when and why the private equity and restructuring business can work.
The first is a more determined effort to help those trapped in "negative equity" to restructure the mortgages on their homes an area where the Obama administration has been notably timid.
He is negotiating with the bondholders, offering to give up some equity to restructure Venture to keep it afloat.
Distressed investing is about "buying debt at a low price, then turning the debt into equity in a restructuring and help the company prosper".
The loans, which currently trade around 70 cents on the dollar, put the investors first in line to convert their debt into equity in a restructuring of the power-generation assets".
