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Private equity funds to vote imminently on IVG’s debt-for-equity swap

A huge consortium of private equity funds, hedge funds and debt investors will vote on IVG Immobilien’s €2.1bn debt-for-equity swap proposals within the next 48 hours, with an outcome possibly as early tomorrow morning.
By James Wallace
August 19, 2013 | 7:05 P.M.

Cerberus Capital Management, Varde Partners, Apollo Global Management and TPG Capital are the lead owners in a giant consortium of almost 20 creditors seeking to agree a consensual debt-for-equity conversion of the 1.3bn ‘SynLoan I’ syndicate which would enable IVG to avoid a court-supervised restructuring.

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