2009 May | Debtconsolidationcab.com

May

30

The value of days in Paris – DANONE: The title virtually stable

2 CommentsUncategorizedMay 30th, 2009

Danone (-0.90% to 35.70 euros) has announced a capital increase “with maintenance of preferential subscription rights of shareholders for a total of 3.048 billion euros.” The subscription period of the new shares will begin on June 1st and ends June 12 “The subscription of new shares will be made at a price of 24.73 euros per share at a rate of 4 new shares for 17 existing shares, resulting in the issuance of 123 236 352 new shares,” said the champion yoghurt.
The food group said that the transaction would enable it to strengthen its financial structure, reduce its debt and improve its improved credit ratios, “but also” increase its financial flexibility and strategic, to support its strategy of organic growth and acquisitions fund small or medium sized. ” End 2008, the Danone debt was 11 billion euros.
The subscription price reflects a discount of 31.4% over the closing price of Danone Thursday. Each shareholder will receive a preferential subscription right per share held at the end of the trading session today. The offer will be open to the public in France and Switzerland and will be fully guaranteed by a syndicate of banks led by Calyon and JP Morgan.
The group recalled qu’Eurazeo, who controls 5.2% of Danone planned to subscribe to this capital increase.
M-L.H.

AP – MORE

GLOSSARY
Capital increase: Action is to increase the capital of a company by issuing new shares. Generally used as a last resort to fund the company (after cash and debt). This type of operation is short-term dilutive for shareholders.
The company generally offers to existing shareholders to subscribe new shares in principle, a price below the last share price.

Performances
- Main activities: (i) fresh dairy products, (ii) Water and (iii) Food and Nutrition Medical Child
- Sales Growth of 19.1% in 2008 to 15.2 billion euros due to the acquisition of Numico (growth of 8.4% on a comparable basis)
- Results: In 2008, growth of 12.3% of net operating profit (at 2.27 billion euros) and improving the operating margin of 53pb (to 14.91%) on a comparable basis.
- Outlook: For 2009, given the economic slowdown, including in emerging countries, predicts a growth of a few points below the 8% to 10% target for 2008. Also provides a 10% increase in diluted net income per share to the consolidation and constant exchange rates.

Strategy
- As part of its strategy to focus on health, the group has sold between 1997 and 2007 all of its grocery business, its packaging, its Cheese and Charcuterie (Galbani), its European beer business its activities and its activities Sauces Biscuits (with the exception of its holdings in Latin America and India).
Following the acquisition of Dutch Numico in October 2007, Danone now has two jobs and health-oriented growth, nutrition, medical and infant nutrition.
In a very difficult environment, Danone account consolidate its innovation strategy in 2009.
- Financial Events: In 2007 the group carried out an assignment most simultaneously (Biscuits pole) and a strategic acqui sition, the largest ever undertaken by the Group (Numico).

The strengths of the value
- A major player in the global food industry;
- Good resistance to the crisis thanks to the reputation of its brands;
- Strong momentum in terms of supply through a policy of constant innovation and high reactivity in relation to consumer demand (in France, facing the growing importance of brands, launching the Ecopack, pack yogurts EUR 1);
- Policy on disposal of non-strategic (recently its subsidiary in Australia and New Zealand Fructor) to reduce debt;
- The health positioning allows the group to pass on price increases of raw materials, and thus preserve its margins;
- With a fleet of more than 78%, and in the absence of a shareholder, the group is potentially opéable => speculative interest.

The weaknesses of the value
- In France, development of brands in a context of crisis;
- Difficulties structural pole of bottled water in developed countries;
- The conflict with the Chinese Wahaha bogged (since 2005). It is now settled by the Stockholm Chamber of Commerce;
- Because of new accounting standards (which require reassessment of goodwill), the group could record higher depreciation following the acquisition of Numico;
- The acquisition of more than 12 billion euros has inflated legal debt of the group.

The value and its sector
- The industry: In a very tight economy, the big players such as Danone and Nestlé are resisting because their capacity for innovation allows them to develop new products with higher added value.
- The value in the sector: No. 1 worldwide for fresh dairy products, No. 2 bottled water, No. 2 of infant nutrition (and the European leader) and No 3 of the medical nutrition.
Danone is one of the few players in the food completely refocused on health, which gives it some strategic advantage.

How to track the value
- Defensive value because of its activity. Nevertheless, competition from private label emphasizes that the performance of the group are influenced by the overall economic situation.
- Danone seeks to debt therefore other assignments are possible.
- Company opéable easily, especially as the share price fell by more than 27% in one year.

Remuneration of directors and shareholders

Directors and corporate officers
- CEO: Franck Riboud: total pay in 2007 (fixed, variable and benefits included): 2.5 million euros (-2.9% yoy)
- Stock options granted to the Executive Committee: 3 810 668 shares (or 0.7% of the number of shares issued)
- In 2007, the total gross direct and indirect remuneration paid to members of the Board of Directors and Executive Committee amounted to 12.4 million.
- Will adopt the recommendations MEDEF / AFEP

Shareholders
- Major shareholders: Target 78.2%, self 7.3%, 5.5% Eurazeo; Caisse des depots et des consignations: 3.5% Other / Miscellaneous 5.5%
- Dividends paid: € 560 million provided in 2008
- Rate of dividend distribution: 13% on 2007 results against more than 30% in 2006
- Growth rate of dividend per share: 10% in 2007 (and 17.6% in 2006)
- Yield (dividends / Courses *): 1.9% at end 2007 against 1% at end 2006 (* average for the year)
- Estimated dividends per share: 1.20 in 2008 and 1.28 in 2009

THE VALUE OF THE SECTOR

Food
All the players lack of visibility for 2009 and are extremely cautious in their forecast results for this year. To withstand a difficult environment, which favors labels (MDD), the groups have two possibilities. Either they develop innovative products to differentiate themselves or they compete with private label. The environment does not appear for the first carrier type of product. Thus yoghurt ‘beauty’ Essensa Danone was a failure and its commercialization will be suspended. The group launched the french Ecopack, a batch of six yoghurt 1 euro. Yoplait did so by developing a “Green offers” for 1 euro. But again the success is not guaranteed because Ecopack is distributed in less than 30% of hypermarkets and supermarkets. Therefore it is also essential to build on the ranges established by multiplying both the innovations and promotions. Activia 0%, Danone introduced by the french market by year-end, performed well this has strengthened the group in that direction.

Copyright 2009 Agence Option Finance (AOF) – All rights reserved by Reuters. AP collecting data from sources it considers safer. However, the reader remains solely responsible for their interpretation and use of information made available. Thus the reader should take AP and its contributors free of any claims resulting from such use. Agency Option Finance (AOF) is a trademark of Group Finance Option.

May

30

Government Obama assembles the last pieces of the puzzle

3 CommentsUncategorizedMay 30th, 2009

The U.S. government Friday methodically assembled the final pieces of the puzzle of a bankruptcy of General Motors, wanted a maximum set of files before the judge to take up what will be the most complex bankruptcy of the country’s history.

According to local media, the bankruptcy of the company, which was for 77 years the world of the automobile is expected Monday.

The timing of government next week seems to accredit this date: a dozen cabinet members will be deployed from Tuesday in the major automotive states of Ohio, Michigan, Indiana and Wisconsin to explain government policy.

The administration of President Barack Obama has already explained that she wanted the healthy assets of the car were taken by a “new GM” as soon as possible after a bankruptcy. The Treasury control in the first 72.5% of the capital of the restructured group.

To prevent the group languished for years under judicial supervision, the Government wishes to present to the judge a plan for restructuring all tied with the agreement of key stakeholders, as it seemed on track to achieve the record on Friday, while more simple, Chrysler.

The new offer to restructure the bond debt unsecured Thursday presented reflects this ambition. The creditors were offered 25% stake of the new GM “, instead of 10% in a first offer of the Treasury, provided support to the court the government plan.

A first group of creditors representing approximately 20% of the debt concerned has already given its consent. The New York Times, the Treasury is in discussions with a new group, weighing 30% of the debt. However, several associations of small carriers – they are more than 100,000 to be invested in the debt of GM – camped on their initial refusal.

The bond holders have until Saturday 17H00 (21H00 GMT/23h00 HEC) to decide. The Treasury has not set a minimum threshold for acceptance but will be determined based on the quality of creditors supporting its plan, said Thursday was an official on condition of anonymity.

Before you file for bankruptcy, GM will also have received the green light by members of the union of the car at the UAW agreement signed between their representatives and the management of GM. Once it obtained, the manufacturer will announce further restructuring, with the disappearance of thousands of jobs and closing factories on the U.S. territory.

But the list of tasks to be undertaken by the government during these three days to clear the field of bankruptcy does not stop there.

GM will have to support its equipment, most of which, already weakened, would not survive an interruption of the mass production of GM. Appoint a new board does not reflect the de facto nationalization. Specify the sort of marks he wants to rid as Hummer, Saab and Saturn ….

Himanchu Patel, auto analyst at JPMorgan, said that the total amount of money injected by the State in GM (nearly $ 60 billion) exceeds $ 31 billion that the group considered essential to its operation a month ago only.

This sum could be used to repay the holders of secured debt (6 billion), consolidating Delphi, its largest supplier (8 billion), liquidate the assets of unsaleable “old GM” (2 to 3 billion) and support the automobile finance company GMAC (1.6 billion), says Patel.

Everything in its duty in Washington, the government task force on the car will have also become more involved in the case of the European subsidiary Opel, where he attracted the ire of Berlin.

May

30

The Partouche group is in negotiations on its debt

3 CommentsUncategorizedMay 30th, 2009

The group Partouche (PARP.PA: Quote), whose sales fell 10.8% to 222.8 million euros in the first half, said Friday that negotiations with banks were continuing on restructuring its debt.

The syndicated bank credit extended until 30 June 2009 the deadline for payment of a syndicated loan of 20 million.

The manager of casinos has seen its results deteriorate sharply in 2008 and its capital amounted to the end of this year to 326.6 million euros against a net debt of 353 million.

The activity of the second quarter of fiscal year 2008/2009 has been declining from 6.7% to 106.1 million, against a decrease of 14.3% in the previous quarter to 116.7 million, which explained by an effect of more favorable.

Partouche had announced at the presentation of its annual results that the negative trend in profitability imposed a restructuring of its dette.Il told also consider asset sales.

May

29

The collapse of the income tax and VAT increases the government deficit

2 CommentsUncategorizedMay 29th, 2009

The Social Security surplus shrinks 20%, while state revenues continue their downward trend, with a fall of 18.4%.

The Spanish government deficit at the end of April amounted to 6.553 million euros (0.6% of GDP), where a year ago had a surplus of 9.123 million. The National is still in free fall, although Secretary of State for Finance, Carlos Oca

May

29

General Motors failed in its plan to convert 19,500 million of debt into shares

3 CommentsUncategorizedMay 29th, 2009

The U.S. automotive group General Motors admitted today that his proposal has failed to translate into action a total of 27,200 million dollars (19,500 million euros at current exchange rate) of unsecured debt.

Acknowledged that the U.S. multinational, after expiry of the deadline to qualify for this program of change by action of debt, creditors who have received the same are not sufficient to meet the requirements of the Treasury Department.

Therefore, when this condition is not met or other additional requirements, General Motors has decided to suspend the redemption of debt. In addition, the group announced a reunion of its board of directors to assess the next steps of the company.

General Motors has until next June 1 to complete a restructuring plan that will ensure its viability in the future, according to the ultimatum given by the U.S. president, Barack Obama.

The feasibility plan for a General Motors cut additional staff from 7,000 to 8,000 jobs, which will reduce its 23,000 troops in its factory workers between 2008 and 2012, during which also will close 16 factories in North America and to dispense four of its brands.

Thus, General Motors will focus on four brands to its activity in Northern America: Chevrolet, Cadillac, Buick and GMC. In this way, Pontiac will disappear by the end of 2010, while Saab, Saturn and Hummer will have their own solution later this year.

As for the sales network in United States, the number of dealers will be reduced by 42% between 2008 and 2010, from 6246 to 3605 centers. General Motors takes its market share fall this year to 19.5% and stabilized between 18.4% and 18.9% in the coming years, as a result of lower demand and the consolidation of brands and dealers.

Achieving these objectives is through a stringent cost reduction measures, including the elimination of 23,000 jobs in its factories between 2008 and 2011, the closing of 16 plants (47 to 31) in the same period and the reduction of labor costs by 34% in the period between 2008 and 2010. With this, the structural costs should be reduced by 7600 million dollars (5,800 million), 25%.

May

29

Increases the demand for debt consolidation family

4 CommentsUncategorizedMay 29th, 2009

The growing gap between the interest rates on personal loans and mortgages is pushing thousands of families to engage in processes of debt consolidation. That is because the lower cost of the mortgage term compensates for the most, compared to high rates of consumer credit, according to the Agency Negotiator Bancarios.Así Products, if in 2008 the demand .

May

28

Danone fell 5.14% to 37.58 euros

6 CommentsUncategorizedMay 28th, 2009

The operation will be launched in the coming days “according to market conditions,” said deputy director general of Danone, Emmanuel Faber. The food giant intends to “reduce its debt and increase its financial and strategic flexibility” to make acquisitions of medium size or small.
Net debt Champion yoghurt is more important than that of its competitors: it was the end of December to 11 billion euros to 8.7 billion euros of equity. The goal is to reduce the debt to EBITDA ratio of 1.7 against Danone to 2.8 today.
“This surprise announcement was clearly bad news. We believe that the dilution will be at least 9% not to mention a very probable price,” commented a trader quoted by Reuters.
For its part, Emmanuel Faber said that the capital increase would, in a full year, a dilutive impact of 10% if all three billion euros were signed.
He also said during a conference call that the group had “absolutely no plans for major acquisition in the weeks and months to come.” Danone, however, stressed that he wanted to be a contributor “proactive” to the consolidation of the industry of medical nutrition.
The group reconfirmed its targets for 2009, ie a continuous progression of the current operating margin for comparable data and a 10% growth in net income per diluted common share for comparable data.

AP – MORE

Performances
- Main activities: (i) fresh dairy products, (ii) Water and (iii) Food and Nutrition Medical Child
- Sales Growth of 19.1% in 2008 to 15.2 billion euros due to the acquisition of Numico (growth of 8.4% on a comparable basis)
- Results: In 2008, growth of 12.3% of net operating profit (at 2.27 billion euros) and improving the operating margin of 53pb (to 14.91%) born to Don comparable.
- Outlook: For 2009, given the economic slowdown, including in emerging countries, predicts a growth of a few points below the 8% to 10% target for 2008. Also provides a 10% increase in diluted net income per share to the consolidation and constant exchange rates.

Strategy
- As part of its strategy to focus on health, the group has sold between 1997 and 2007 all of its grocery business, its packaging, its Cheese and Charcuterie (Galbani), its European beer business its activities and its activities Sauces Biscuits (with the exception of its holdings in Latin America and India).
Following the acquisition of Dutch Numico in October 2007, Danone now has two jobs and health-oriented growth, nutrition, medical and infant nutrition.
In a very difficult environment, Danone account consolidate its innovation strategy in 2009.
- Financial Events: In 2007 the group carried out an assignment most simultaneously (Biscuits pole) and a strategic acquisition, the largest ever undertaken by the Group (Numico).

The strengths of the value
- A major player in the global food industry;
- Good resistance to the crisis thanks to the reputation of its brands;
- Strong momentum in terms of supply through a policy of constant innovation and high reactivity in relation to consumer demand (in France, facing the growing importance of brands, launching the Ecopack, pack yogurts EUR 1);
- Policy on disposal of non-strategic (recently its subsidiary in Australia and New Zealand Fructor) to reduce debt;
- The health positioning allows the group to pass on price increases of raw materials, and thus preserve its margins;
- With a fleet of more than 78%, and in the absence of a shareholder, the group is potentially opéable => speculative interest.

The weaknesses of the value
- In France, development of brands in a context of crisis;
- Difficulties structural pole of bottled water in developed countries;
- The conflict with the Chinese Wahaha bogged (since 2005). It is now settled by the Stockholm Chamber of Commerce;
- Because of new accounting standards (which require reassessment of goodwill), the group could record higher depreciation following the acquisition of Numico;
- The acquisition of more than 12 billion euros has inflated the debt of the group.

The value and its sector
- The industry: In a very tight economy, the big players such as Danone and Nestlé are resisting because their capacity for innovation allows them to develop new products with higher added value.
- The value in the sector: No. 1 worldwide for fresh dairy products, No. 2 bottled water, No. 2 of infant nutrition (and the European leader) and No 3 of the medical nutrition.
Danone is one of the few players in the food completely refocused on health, which gives it some strategic advantage.

How to track the value
- Defensive value because of its activity. Nevertheless, competition from private label emphasizes that the performance of the group are influenced by the overall economic situation.
- Danone seeks to debt therefore other assignments are possible.
- Company opéable easily, especially as the share price fell by more than 27% in one year.

Remuneration of directors and shareholders

Directors and corporate officers
- CEO: Franck Riboud: total pay in 2007 (fixed, variable and benefits included): 2.5 million euros (-2.9% yoy)
- Stock options granted to the Executive Committee: 3 810 668 shares (or 0.7% of the number of shares issued)
- In 2007, the total gross direct and indirect remuneration paid to members of the Board of Directors and Executive Committee amounted to 12.4 million.
- Will adopt the recommendations MEDEF / AFEP

Shareholders
- Major shareholders: Target 78.2%, self 7.3%, 5.5% Eurazeo; Caisse des depots et des consignations: 3.5% Other / Miscellaneous 5.5%
- Dividends paid: 560 million euros in 2008 reviewed p
- Rate of dividend distribution: 13% on 2007 results against more than 30% in 2006
- Growth rate of dividend per share: 10% in 2007 (and 17.6% in 2006)
- Yield (dividends / Courses *): 1.9% at end 2007 against 1% at end 2006 (* average for the year)
- Estimated dividends per share: 1.20 in 2008 and 1.28 in 2009

THE VALUE OF THE SECTOR

Food
All the players lack of visibility for 2009 and are extremely cautious in their forecast results for this year. To withstand a difficult environment, which favors labels (MDD), the groups have two possibilities. Either they develop innovative products to differentiate themselves or they compete with private label. The environment does not appear for the first carrier type of product. Thus yoghurt ‘beauty’ Essensa Danone was a failure and its commercialization will be suspended. The group launched the french Ecopack, a batch of six yoghurt 1 euro. Yoplait did so by developing a “Green offers” for 1 euro. But again the success is not guaranteed because Ecopack is distributed in less than 30% of hypermarkets and supermarkets. Therefore it is also essential to build on the ranges established by multiplying both the innovations and promotions. Activia 0%, Danone introduced by the french market by year-end, performed well this has strengthened the group in that direction.

Copyright 2009 Agence Option Finance (AOF) – All rights reserved by Reuters. AP collecting data from sources it considers safer. However, the reader remains solely responsible for their interpretation and use of information made available. Thus the reader should take AP and its contributors free of any claims resulting from such use. Agency Option Finance (AOF) is a trademark of Group Finance Option.

May

28

Cac 40: Concern on the cost of U.S. debt

3 CommentsUncategorizedMay 28th, 2009

After the bull rally the day before surgery in the United States, the Cac 40 opened the meeting Wednesday on an optimistic note. If the increase is still moderate, the Cac 40 was a time close to 3300 points to return the balance to 16h before finally end on a fourth consecutive session resumption (+0.76%) to 3295 points. On the macro level, the meeting was particularly marked by the publication of a rebound in U.S. home resales for April.

In terms of companies, General Motors (-20.14%) has once again come to the scene while the majority of players agreed to consider bankruptcy for the next giant of Detroit who attended powerless to failure the restructuring of its bond debt. And even if the market is preparing for weeks, this decision might have serious consequences on the whole industry and even the morale of the households in fragile phase of convalescence. As for his competitor, Chrysler’s future it is now suspended from the decision of the bankruptcy court could rule before the end of the week. On the front of French values, EADS jumped +5.61% as a result of the rise of the dollar. In contrast, the group of wines and spirits Pernod Ricard has been a particularly difficult day, especially on its disappointing outlook finally back -1.71%. Atlantic Moreover, uncertainty has weighed on the trend early in the day and then finally led to profit-taking support, particularly around the industrial index values with a decline of -2.05% of Dow Jones. The benchmark index of technology stocks fared better out although the Nasdaq was still sold in closing -1.11%. The high inflation of the later yields of Treasury bonds has revived concerns about the extent of American debt and the cost that results even if the rating agency Moody’s had reassured earlier in the morning by saying that n It was not to degrade the note of Uncle Sam If the increased debt may worry, President Barack Obama was justified last night in Las Vegas on the extent of its plan to revive and satisfaction with the results already observed. On the oil front, OPEC countries are in Vienna this Thursday but the meeting should not lead to a further reduction in production quotas, countries observing with satisfaction the wave bounce that has benefited the price of a barrel who pointed yesterday on Nymex at more than U.S. $ 63 against $ 32 last fall.

Graphically resists the Cac 40 and came on Wednesday to confront the psychological threshold of 3300 points. Above this level, the testing of the zone of resistance to 3320/3356 points, will be crucial to finding the revival of the bullish momentum in the channel bottom (black trace) whose support currently gravitates towards 3240 points. But in case of failure in this area, the risk of the index move in a trend of consolidation occur confirming when the oscillations of the index on the schedule in a triangle configuration (shown in black) would mean a new low in the direction of 3200 points.

In this context, the team Tradingsat.com issues a neutral opinion on the upcoming meeting. However, a crossing point in 3300 to revive the tension in the purchase, while a breakdown of 3240 points boost pressure salesperson.

The news will be heavy today with the unemployment rate in Germany due 10:30. On the other side of the Atlantic at 14:30, registration weekly unemployment as well as durable goods orders will be unveiled at 16h followed by sales of new homes.

May

28

“Lafarge wants to significantly reduce the share of banks in its debts”

3 CommentsUncategorizedMay 28th, 2009

Pascal TourlièreDans line with its capital increase of 1.5 billion euros in April, Lafarge launched last week three of a total debt of 1.6 billion, to pursue repayment of the debt contracted for the acquisition of Orascom. The group now wants to refinance on the market at 70%.

After the capital increase, the debt reduction target is reached?
The capital increase is an important package of 4.5 billion euros announced on 20 February. This is not the only one. Other measures to reduce our debt are implemented, whether the decline in working capital requirements, cost reductions, the conduct of our program of 1 billion euros from divestments and minimum the strict limitation of our investments, or decrease in the amount of the dividend. All this contributes to return to our financial target, expressed as a ratio of cash flow to net debt of 28% at least, to find our strong credit rating of BBB … We will not be at this level ratio at the end of 2009, but the direction is clearly taken to return as soon as possible.

Have you pressure banks to repay your debt purchase?
No. The proof is that we obtained a bank line of substitution of 1 billion euros in February to ensure repayment of the balance of the first two installments of the line out to Orascom acquisition, we will not even use make our operations bondholders last week.

Why do you want to disengage from the bank, less than the bond?
The cost of our bank lines is indeed lower than our refinancing in the bond market. The cost of our recent issue EUR 5 years amounted to 7.75% and in pounds sterling to 8 years to 8.75% in May 2008 when we were paying around 6%. The cost of our prints on our current line of acquisition, which benefit from low levels of Euribor rather around 2%. Our aim is clearly to continue the prudent management of our debt, including extending the maturity.

We prefer banks gradually release their commitments made in connection with the acquisition of Orascom. This strategy also aims to ensure proper diversification of our funding sources. Lafarge’s policy in this area has always been to maintain funding sources désintermédiés, with an average of about 70% debt market. This distribution was unbalanced due to the acquisition of Orascom, the benefit of bank finance. But this is temporary. Our goal is to pay down early and our line of acquisition. At the end of May, we still have to repay 3.1 billion before 9 December 2012, which leaves us time to do things calmly!

How do you reduce the banks?
We do not have a specific target, but if our bank debt now represents over 51% of our consolidated debt, earlier, she weighed around 20% and was due rather to the financing needs of our subsidiaries worldwide. We believe gradually to such proportions.

May

28

General Motors close to bankruptcy

3 CommentsUncategorizedMay 28th, 2009

The U.S. automaker has not persuaded its creditors to convert their securities into shares of the four days of the end of the ultimatum set by the government.

General Motors is still a step closer to filing for bankruptcy. Last warning shot, the bondholders of the automaker rejected the offer to convert their shares into shares of the group. To confirm this, GM was required to obtain the agreement of at least 90% of its bond holders in exchange for which they receive 10% of the capital of the manufacturer. But the offer was not expected home, feeling aggrieved creditors in relation to other stakeholders such as the automobile union UAW and the Federal State. They could ultimately recover their up in bankruptcy court cases bankruptcy.

Initially, the operation should logically consolidate state participation in the capital of GM for more than 50%, because large sums that must be injected during the restructuring. The Obama administration would be ready to inject up to 50 billion in the first car manufacturer in the country. She wants to avoid a liquidation that would have knock-on effects throughout the economy.

The restructuring of $ 27.2 billion of unsecured debt and more than 120 financial institutions and 100 000 individual investors. She was one of the conditions set by the U.S. Treasury for the group to avoid bankruptcy. However, if no other solution is found by the end of the week, General Motors will be forced to place themselves under the law of bankruptcy protection as soon as next Monday, when the government’s ultimatum expires.

Debtconsolidationcab.com

Archive

The value of days in Paris – DANONE: The title virtually stable

Government Obama assembles the last pieces of the puzzle

The Partouche group is in negotiations on its debt

The collapse of the income tax and VAT increases the government deficit

General Motors failed in its plan to convert 19,500 million of debt into shares

Increases the demand for debt consolidation family

Danone fell 5.14% to 37.58 euros

Cac 40: Concern on the cost of U.S. debt

“Lafarge wants to significantly reduce the share of banks in its debts”

General Motors close to bankruptcy

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