COMPANIES Hugh Osmond’s Pearl Group is closing in on a £3bn debt restructuring with its main banks this weekend after weeks of negotiations on a deal that would also see it raise £500m in capital from a new investor.
People involved were hopeful a final agreement could be delivered next week, which would leave Mr Osmond’s Sun Capital and TDR, a private equity firm, with significantly reduced stakes. However, any deal could still fall through.
