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MBAC Fertilizer Provides Update on Strategic Review Process to Improve Liquidity
MBAC Fertilizer (TSX:MBC) has engaged Duetsche Bank AG to act as a financial advisor in connection with the company’ss strategic review process to help find a definitive solution to the current working capital constraints and liquidity requirements. As part of the review process, it will look at securing a strategic partner, selling the company or some of its assets as well as other potential value-maximizing transactions.
MBAC Fertilizer (TSX:MBC) has engaged Duetsche Bank AG to act as a financial advisor in connection with the company’s strategic review process to help find a definitive solution to the current working capital constraints and liquidity requirements. As part of the review process, it will look at securing a strategic partner, selling the company or some of its assets as well as other potential value-maximizing transactions.
According to the press release:
Options under consideration in the strategic review process include, but are not limited to, securing a strategic partner, the sale of the Company or its assets as well as other potential value-maximizing transactions. A number of potential candidates have already been selected and approached and are currently initiating the process of evaluation of the Company and the Itafós Operations.
Although MBAC believes that a long-term solution will be achieved in due course through the strategic process, the Company’s ability to continue as a going concern is dependent on obtaining additional working capital funding in the immediate term. The Company continues to work with its senior lenders to obtain the required funding in the short term.
Click here to read the MBAC Fertilizer (TSX:MBC) press release
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