Sibur to Buy $600M of Amtel-Vredestein Debt
On January 22 Amtel-Vredestein N.V. reported its postponement of the general meeting of shareholders planned for the second half of the month. This decision was taken, the company discloses, because it is not yet “in a position to submit a decision on the disposal of its subsidiary Vredestein Banden B.V. to the general meeting for approval”. Amtel-Vredestein says plans regarding the subsidiary’s disposal are continuing, however it admits the sale process “may be impacted by certain legal actions taken by creditors of the company”. In a press statement, the company says it intends to conclude the sale process as soon as possible, thereby offering maximum value to all stakeholders. This is, admittedly, a best-case scenario; the statement contains the caveat that there can be no certainty of the successful sale of Vredestein Banden B.V.