Company Roust Corporation, manages assets of Russian businessman Rustam Tariq, unveiled a scheme of debt restructuring. The document was published on Thursday, November 10, the company's website.
It is reported that Roust Corporation has agreed with 90 percent of the company's Eurobond holders on additional capitalization and debt restructuring.
The Russian Standard brand, which is one of the main assets of the group, will be transferred to the balance of Roust Corporation. In addition, bondholders will become shareholders of the company.
Restructuring should reduce debt on 462 million dollars. At the end of the first half of the year, the debt exceeded one billion dollars.
Tariko owns the Russian Standard holding, he also owns four existing distilleries and one low-alcohol beverage production facility. Roust produces alcoholic products under the brands “Russian Standard”, “Green Mark”, “Parliament”, “Cranes” and others. The holding is also a major distributor of imported alcohol, having contracts for the sale of Bushmills whiskey, Remy Martin cognac, Hendrick's gin and others in Russia.
See also ... 24/10/2014 Alcohol business of Rustam Tariko changed his name16 / 03/2016 Vodka from Russia does not find a place 23/03/2016 Rustam Tariko accepted half of the debt from Liviz02 / 11/2016 Roust lost leadership in the vodka market 500 Alcohol flows from Rustam Tariko23 / 03/2015 Rustam Tariko hopes to settle debts17 / 04/2013 In Russia, mix vodka and ubytki18 / 05/2015 Roust started production of "parliamentary", "bison" 27/12/2013 "Russian Standard" has become the second in mire18 / 08/2015 Russian vodka is well at home. Its share in the global market is almost not growing.