Interserve rebuffs rebel shareholder's alternative rescue plan

By Dave Rogers2019-03-05T15:02:00

Battle over rival proposals hots up ahead of key vote next Friday

Interserve has poured cold water on attempts by its biggest shareholder to come up with an alternative rescue plan.

Coltrane Asset Management, the US hedge fund which owns just over 27% of the firm, sent the firm an updated proposal yesterday afternoon.

This would see creditors given just 55% of the business under a debt for equity swap rather than the 95% Interserve says they should have.

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