(Reuters) Noble Group Ltd (NOBG.SI) won approval from shareholders on Monday for a $3.5 billion debt restructuring plan that should ensure the survival of what was once Asia’s biggest commodity trader. Faced with the prospect of the company’s insolvency, shareholders reluctantly backed a debt-for-equity swap that will leave them owning just 20 percent of the business, while handing majority control to a group of creditors comprised mainly of hedge funds.
Noble Group Wins Lifeline as Shareholders Back $3.5 Billion Debt Restructuring
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