Enschede, The Netherlands -- Amtel-Vredestein NVsaid its Russian subsidiary has now delivered a restructuring proposal to most of its current lenders to reorganise its current and long-term debt obligations.
The company said the costs associated with the debt restructuring, â€œhave materially affected results in the last quarterâ€. As a result, the group now expects that financial results for the year ended 31 December 2007 will be materially below expectations previously communicated.
Amtel-Vredestein N.V. expects to announce its operational results for FY2007 in April and full audited financials upon completion of audit procedures expected in May.
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Source1 (Origin) story
Press release from Amtel-Vredestein