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Codere to lose market listing after €1.1bn debt restructuring

24th September 2014 9:29 am GMT

Spanish gaming operator Codere is set to be de-listed from the Madrid Stock Exchange after its creditors agreed a €1.1bn debt restructuring deal that will see its bondholders take majority control of the business.

The deal will see Codere’s founders, the Martinez Sampedro family, relinquish their 70 per cent majority stake in the business, handing bondholders a 97.78 per cent stake in exchange for wiping out €670m of debt.

A further portion [...]

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