Sign up for our newsletter
Technology / AI and automation

ALPHATEC CREDITORS DROP RESCUE PLAN

Thai chipmaker Alphatec Electronics Plc after creditors turned down a rescue plan put forward by an investment company owned by Swedish telecommunication firm Ericsson AB and American International Group. The investment companies offered to put in $40m for a five-year restructuring plan in return for an 80% stake in the equity (CI No 3,551), but at a meeting on Monday, creditors led by Rung Thai Bank turned down the scheme claiming it was an attempt to write down debts rather than rehabilitate the company.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.