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Fri 11 Nov 2009IN&M has no plans to sell more assets, says O'Reilly
INDEPENDENT NEWS & Media has taken sufficient action to address the company’s indebtedness for the next few years, and any further deleveraging will take place by way of cashflow rather than further debt restructuring, the company’s chief financial officer Donal Buggy said yesterday.
Speaking after the company’s two extraordinary general meetings (egms) yesterday, at which shareholders voted in favour of the restructuring plan, chief executive Gavin O’Reilly said its endorsement by shareholders brought to a close a nine-month restructuring process. He added that the company had “no plans” to sell further assets to pay off debt.
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