Still no sign of McAleese recapitalisation deal


SC Lowy negotiations continue, with decision expected on yet another Friday

Still no sign of McAleese recapitalisation deal
McAleese expects its voluntary share suspension to remain in place until May 30.

 

Haulage firm McAleese has delayed announcing a decision on its refinancing deal for the 13th consecutive week.

An announcement on a binding heads of agreement is now expected on Friday.

The company is searching for a survival deal since entering exclusive negotiations with its lenders and a consortium led by SC Lowy.

"While negotiations between the company, its financiers and a consortium led by SC Lowy are continuing positively, the proposed transaction documentation is still being settled between the parties," a company statement reads.

The company expects its voluntary share suspension to remain in place until Monday.

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