Yellow's owners approve plan to replace debt with securities in new company

Mon, 15 Jun 2015

By Jonathan Underhill June 16 (BusinessDesk) - Creditors of NZ Directories Holdings, the owner of the Yellow directories service, have voted overwhelmingly in favour of a new capital structure, that will see them holding securities in a new company in return for relinquishing claims to $385 million of debt. The new company Yellow Holdings Limited will incorporate New Zealand Directories IP Limited, Yellow Pages Group Limited and its subsidiary, Finda Limited, they said in a statement. “The board, management and shareholders are very p...

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