Almatis exits bankruptcy earlier than planned

On Thursday, European aluminum maker Almatis Holdings BV reported that it has emerged from U.S. bankruptcy proceedings.

The press release is quoted as saying:

Almatis had said Sept 20 that it expected to exit bankruptcy by the middle of October. [ID:nN20273747]. At the time, it received court approval for its reorganization under the control of Dubai International Capital LLC [DUBAHP.UL], or DIC. The reorganization caps months of battling over Almatis between DIC and Almatis’s main debtor, Oaktree Capital Management LP [OAKCP.UL]. Almatis, acquired by DIC via a leveraged buyout in 2007, has operations in Europe and the United States.

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