Oct 7 Canadian organic food company SunOpta Inc
said it received $85 million from investment
manager Oaktree Capital Management LP, in exhange for preferred
shares, to pay off its second lien debt.
In reaching the agreement with Oaktree, SunOpta said it has
concluded the previously announced review of strategic
alternatives for the company.
SunOpta had hired financial and legal advisers in June to
explore strategic alternatives, months after its largest
shareholder Tourbillon Capital Partners LP urged the company to
sell itself due to its frustration with the company's
The company's U.S.-listed shares were down 13.3 percent at
$6.05, and its Toronto-listed shares down 12.4 percent at C$8.19
in afternoon trading.
(Reporting by Vishaka George in Bengaluru; Editing by Shounak