SAS has successfully completed its restructuring proceedings and emerged from chapter 11 in the US and from Swedish company reorganization, according to a statement.
- New principal owners of the reorganized company, Castlelake, Air France-KLM, Lind Invest and the Danish State, have agreed to appoint a new board of directors
- Board led by Kåre Schultz as chairman
- Exit financing transaction included a total investment in reorganized SAS of $1.2 billion
- Comprises $475 million in new unlisted equity and $725 million in secured convertible debt
- Distributions to creditors entitled to receive any cash, equity or contingent value notes are expected to take ...
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