Mexico homebuilder Geo sets meeting to present debt restructuring

martes 21 de abril de 2015 14:56 GYT
 

MONTERREY, April 21 (Reuters) - Mexican homebuilder Geo has called a meeting to present a debt restructuring plan, which it hopes will be approved by the majority of its creditors, the company said on Tuesday.

The meeting will be on May 6 in Mexico City, Geo said in a notice to the Mexican stock exchange.

The company, whose shares have been suspended since 2013 for not reporting financial statements, entered into bankruptcy protection last April.

Under the restructuring plan, which Geo recently released, 88 percent of the company's share capital will be distributed among its creditors, 8 percent will be given to its current shareholders, and 4 percent to the administration. (Reporting by Gabriela Lopez; Editing by Jeffrey Benkoe)