Business
‘There should be no side deals’: Bain Capital outs note holders – The Australian Financial Review
Bain Capital, the private equity firm which Virgin Australia administrators have selected as the preferred buyer for the failed airline, said it was approached by two hedge funds leading an rival recapitalisation proposal.
Bain Capital has revealed it was approached by the two hedge funds leading a rival recapitalisation proposal for Virgin Australia, just days after the funds sent a seven-page proposal to administrator and attempted to gather more support from creditors.
In a statement, Bain dismissed the recapitalisation proposal from Broad Peak Investment Management and Tor Investment Advisers, who are owed $300 million , as “not credible”, “incomplete” and “indicative”.
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