Creditors to control 41.68% Sahid
Creditors under the syndicated group of The Royal Bank of Scotland Plc would control 41.68% shares of PT Hotel Sahid Jaya International Tbk, which owns property at the heart of Sudirman Business District in Jakarta, through conversion of loans to equity.
Sahid in its announcement to shareholders today said the debt to equity conversion is part of the company's effort to restructure the ailing hotel chain owner. With that, Sahid family's ownership would be diluted proportionally from around 93% to around 53% through various entities.
The debt to equity swap is subject to approval from shareholders in a meeting scheduled June 28.
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Sahid in its announcement to shareholders today said the debt to equity conversion is part of the company's effort to restructure the ailing hotel chain owner. With that, Sahid family's ownership would be diluted proportionally from around 93% to around 53% through various entities.
The debt to equity swap is subject to approval from shareholders in a meeting scheduled June 28.
Labels: PROPERTY
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posted by yosef at 8:29 AM
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