Oct 7 (Reuters) - SunOpta Inc SOY.TO :
* SunOpta announces strategic partnership with Oaktree
* Company appoints three independent directors to Sunopta board
* Secures $85 million equity investment
* Proceeds from investment have been used to reduce company's 2nd lien debt
* Sunopta is conducting a thorough review of company's operations, management and governance
* Board of directors has appointed two Oaktree-nominated independent directors, Dean Hollis and Al Bolles, to board
* Expects to provide an updated mid-range plan which will include performance improvements and cost savings to be realized in 2017
* Oaktree also has the right to purchase up to 3 million shares of Sunopta common stock in open market for a period of one year
* Sunopta inc says company appoints three independent directors to Sunopta board
* Secures $85 million equity investment
* In reaching the agreement with Oaktree, Sunopta has concluded previously announced review of strategic alternatives for co
* Under agreement, Oaktree invested $85 million in Sunopta in form of exchangeable preferred shares
* Rothschild Inc is acting as financial advisor to Sunopta and Davies Ward Phillips & Vineberg LLP and Stoel Rives are acting as its legal advisors
* Oaktree's ownership is subject to a 19.99% cap under agreement unless and until shareholder approval is obtained to remove cap Source text for Eikon: ID:nBw89KMBSa Further company coverage: SOY.TO