Greenfields recently announced that the Company has consolidated its interest in Bahar Energy Limited, which is the operating entity of the Company’s project in Azerbaijan. The transaction removes the defaulted partner, Baghlan. We view this transaction positively. In combination with the consolidation, Greenfields has announced a restructuring plan to convert the debentures and senior loans to equity. This dilution was anticipated and will ensure the Company’s survival, and therefore, should be ....
18 Mar 2016
Consolidates Its Interest and Announces Restructuring Transaction
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Consolidates Its Interest and Announces Restructuring Transaction
Greenfields recently announced that the Company has consolidated its interest in Bahar Energy Limited, which is the operating entity of the Company’s project in Azerbaijan. The transaction removes the defaulted partner, Baghlan. We view this transaction positively. In combination with the consolidation, Greenfields has announced a restructuring plan to convert the debentures and senior loans to equity. This dilution was anticipated and will ensure the Company’s survival, and therefore, should be ....