Ascendis warns of business rescue over restructuring
The group is battling with R6.6bn net debt burden, and an expensive debt structure, prompting recapitalisation talks with lenders
31 March 2021 - 14:23
UPDATED 31 March 2021 - 18:33
Debt-ravaged Ascendis Health warned on Wednesday that it will enter business rescue if shareholders shoot down its recapitalisation programme in coming months.
Should this occur, shareholders may get little to no value back for their shares if there is a fire sale of distressed assets, CEO Mark Sardi said, who described the business in relation to its debt as “like driving a Ferrari with its handbrake on”...
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