Eurotunnel confirms restructuring negotiations with potential new investors

By Caroline Salls

Pittsburgh, May 9 - Eurotunnel SA confirmed that it is in negotiations with its creditors and potential investors on a global financial restructuring solution for the group, according to a company release.

The confirmation was made in response to articles, which appeared in the British and French press Tuesday, alluding to the negotiations.

Eurotunnel said the negotiations are taking place under terms of strict confidentiality.

As previously reported, in February, Eurotunnel's joint board approved the memorandum of agreement with the ad hoc committee of creditors outlining its global debt restructuring.

Eurotunnel recently obtained an extension of a waiver from its senior creditors giving it to July 12 to begin a new period of negotiations.

Eurotunnel is the Paris-based operator of the Channel Tunnel.

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