The Main jist of the article is;Several Hedge funds have...

The Main jist of the article is;

Several Hedge funds have interests in CER.. Marathon, York Capital and others who have below the 5% threshold on CER register.. "There might be a number of so-called 'Four Niners' Funds.

'Both York and Marathon had previously been named as among a group of 50 or so hedge funds that held CNP's $3b worth of headstock debt.'

'Their new position pits them against their former allies, the other funds holding CNP headstock debt, which have agreed to convert that debt into equity in the parent.'

'CNP's stake in CER would be excluded from a shareholder vote needed to approve the amalgamation of CER into the new listed trust.'

'CER investors have voiced concern already about the amalgamation, because the headstock lenders would control more than 70 percent of the new vehicle.'

'Market observers believe the oportunistic funds hope to leverage their blocking stake in CER to get a better outcome in the amalgamation.But they could be left without a manager if the headstock lenders call their bluff and put the parent CNP into administration.'