Haven't read it but I hear the article tells of how MFS has 'sought advice from an arm of liquidator KordaMentha on its restructure, including on the sale of assets such as its stake in the Stella hospitality group, the Australian Financial Review reported Tuesday.
Without citing sources, the newspaper said the group hired 333 Capital more than a week ago, preempting any efforts by lenders to take control.
However, the paper said senior executives insisted the hiring of 333 Capital didn't mean that the group is close to entering voluntary administration.
A spokesman was quoted as saying MFS expects to relist following the sale of Stella, expected toward the end of the week.'
Just taken a look at the 33 Capital Website and it says its core services are:
Lead Advisor to entities which are considering sale, merger and/or acquisition transactions;
Acquisition or vendor due diligence investigations;
Independent transaction co-ordination and management
Capital raising and restructuring
Again, seems to be another case of bending the truth to sell a story. I thought the AFR had a bit more credibility but it just seems like they are scaremongering like everyone else.
MFS
mfs limited
