BREAKING NEWS

BREAKING NEWS

Britain's Interserve to cut debt to 275 million pounds through share issue

Britain's Interserve to cut debt to 275 million pounds through share issue
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Peter Nicholls(Reuters)
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(Reuters) - Interserve Plc, which is working to avert a Carillion-style collapse, said on Wednesday it had reached a deal with creditors that would cut its debt to about 275 million pounds by issuing new shares.

The company, which has struggled with a weak construction market and has more than 600 million pounds ($776.34 million) in debt, said it would issue about 480 million pounds worth of new Interserve equity.

(Reporting by Noor Zainab Hussain and Arathy S Nair in Bengaluru; Editing by Arun Koyyur)

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