Oaktree in Almatis debt-for-equity swap

The will see Dubai International Capital lose its equity stake. The company's senior lenders have voted in support of Almatis' prepackaged plan of reorganization.

In total, 77.4% of vote holders of its senior first lien debt by value, and 58.1% by number, have voted to accept the prepackaged plan.

A combined hearing to approve the disclosure statement and confirm the plan has been set for 19 July 2010.

Almatis develops, manufactures and supplies specialty alumina products.

With nearly 900 employees worldwide, the company's products are used in a wide variety of industries, including steel production, cement production, non-ferrous metal production, plastics, paper, ceramics, carpet manufacturing and electronic industries.

Almatis operates nine production facilities worldwide and serves customers around the world.

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• Topics
• DACH
• Exits
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• Oaktree Capital