The Week: City news - INM in new financial deal

Independent News & Media has agreed in principle an outline financial restructuring that rejects the rebel shareholder Denis O'Brien's offer of EUR100 million investment in return for a 67 per cent stake in the company.

The outline agreement, which requires support from 75 per cent of bondholders, will reduce INM's debt by EUR350 million. Bondholders will receive a 46 per cent stake in the company in exchange for EUR123 million of an overdue EUR200 million bond. INM's banks are said to already be on board.

Topics

Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Why creative people have lost their way

What better way to kick off Campaign's relaunch than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).