Argentine Investor Group Buys Debt Stake in InterCement: Clarin

Argentine group Emes has bought a stake of InterCement’s debt, local newspaper Clarin reported, citing sources familiar with the matter.

The purchase cost nearly $400 million, and InterCement will officially announce the deal at an October 6 shareholder’s meeting, Clarin reported.

Intercement filed for bankruptcy protection in December and has for months been trying to get its creditors to approve a plan to restructure its debt.

The company called for a general creditors’ meeting on September 30 and October 6 to vote on its restructuring plan after its creditors approved an extension of a stay period earlier this month. ...