Italian Sea Group Picks SRI Group's EUR 220 Million Offer as Basis for Restructuring Plan
Bitget2026/11/02 19:06- The Italian Sea Group will file a restructuring plan today based on a proposed EUR 220 million business sale to SRI Group Global.
- The buyer remains provisional pending improved bids and court authorization; the business would be leased to the selected buyer before the sale.
- Secured creditors would receive full repayment; unsecured creditors would recover about 10%, with no payments to subordinated creditors.
- Shareholders would receive no value; the company would enter liquidation upon court confirmation, with operations continuing under the buyer.
- A court hearing is scheduled for November 11, 2026; the business lease could be signed in the first week of December.
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