date:Jul 07, 2012
Lion is in deeply in debt, and looking for ways to get out of it.In June, buyout firm Triton Partners, which has a small stake inFindus' senior debt, made a rival proposal for ownership of thecompany. Senior lenders were due to vote today on whichrestructuring plan to take forward. Either would require atwo-thirds majority to gain approval.
Lion's own proposal is to said to be to sell some of Findus unitsto generate additional liquidity, according to two peoplefamiliar with the situation who co