Intueri says indicative offers for remaining assets point to shortfall in repaying bank debt

Sun, 30 Apr 2017

By Jonathan Underhill May 1 (BusinessDesk) - Intueri Education Group says indicative offers for its remaining New Zealand colleges would not generate enough funds to repay all of $70.7 million in debt with ANZ Bank New Zealand. As a result, the company would have "insufficient residual assets to operate a sustainable business or make any return to shareholders" if a sale eventuates, it said in a statement. Intueri hired High St Capital Partners for advice on options for the New Zealand operations including the sale of assets after bein...

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