December 14, 2016 / 12:13 PM / 7 months ago

BRIEF-Creditors of Solocal have accelerated debt in event of rejection of plan on Dec 15, 2016

1 Min Read

Dec 14 (Reuters) - Solocal Group SA :

* Creditors of co have accelerated the debt in the event of a rejection of the plan on December 15, 2016

* More than 2/3 of the creditors of co have notified the agent and the other creditors of the acceleration of the entire debt of the group, for an amount of 835,399,941.70 euros ($889.28 million) subsequent to the multiple defaults that have occurred and are continuing since June 30, 2016

* This acceleration will enter into force as of Dec 16, on condition of rejection of restructuration plan by shareholders at Extraordinary Shareholders Meeting

* Agreement is the only way for co to end its financial difficulties, preserve employment and complete its digital transformation Further company coverage: ($1 = 0.9394 euros) (Gdynia Newsroom)

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