Yellow's owner may be wound up, assets moved to new vehicle, before debt deadline

Mon, 22 Dec 2014

By Jonathan Underhill Dec. 22 (BusinessDesk) - NZ Directories Holdings, the owner of the Yellow directories service, is unlikely to be able to repay $500 million of notes next year and may be wound up, with the profitable operations poured into a new vehicle. The company recorded an operating profit of $48.6 million in the 12 months ended June 30, down from $56 million a year earlier. But impairments about doubled to $82 million, widening the annual net loss to $45.8 million from $12.5 million a year earlier. Notes to the company's fin...

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