Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

BRIEF-Quattro increases asset divestiture plan to $30 million

Published 2016-08-11, 01:05 p/m
© Reuters.  BRIEF-Quattro increases asset divestiture plan to $30 million
QXPh
-

Aug 11 (Reuters) - Quattro Exploration And Production Ltd QXP.V :

* Quattro increases asset divestiture plan to $30 million and is granted court protection to allow for its orderly completion

* Increased divestiture value to be realized based on sale of non-core shut-in assets in addition to Alberta assets

* Divestiture plan is to reduce co's liabilities by up to $18 million, increase working capital to more than $12 million

* Pursuant to notice of intention, Hardie and Kelly Inc. Appointed as trustee in company's proposal proceedings

* Evaluating financing proposals complementary to current lender's continued funding of Quattro's business plan

* Conclusion of process is anticipated to provide Quattro ability to address all of its obligations to its creditors Source text for Eikon: ID:nGNXMZHYYa Further company coverage: QXP.V

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.