Slovenia's DZS Enters Preventive Debt Restructuring Process

Slovenian publishing and tourism group DZS said Ljubljana District Court has ordered the preventive restructuring of its financial liabilities, See News reported. The process will have no impact on the regular activities of the company and will allow DZS and its creditors to employ appropriate debt restructuring measures, the group said in a filing to the Ljubljana Stock Exchange on Thursday. In December, Slovenia's ‘bad bank’, the Bank Assets Management Company (DUTB), said it signed a receivables purchase agreement (RPA) with an affiliate of YORK Capital Management for claims held against DZS, press distributor and retailer Delo Prodaja and spa operator Terme Catez, with a total gross value of 79 million euro ($83.6 million). DZS holds a 45.79% stake in the capital of Terme Catez and controls a 27.97% shareholding in Delo Prodaja.cRead more.