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Bluestone offer for Geneva frustrated
Wednesday 23rd of April 2008
"We are struggling to make progress," Bluestone Group chief executive Peter McGuinness says.Geneva debenture holders are due to vote, on Monday, on a reconstruction proposal where they swap some debt for equity and wait around four years to get fully repaid. The alternative is receivership.
McGuinness says Bluestone would like to carry out due diligence and make a cash offer to debenture...
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