An Elegant Solution

Last week Camillo Eitzen provided an update on the status of the voluntary exchange offer by PT Berlian Laju Tanker to acquire its shares. While CECO indicated the transaction remains on track and is still considered attractive, the Board has decided not to “…extend the exclusivity granted to BLT to ensure the necessary flexibility for CECO in the process of concluding a long-term agreement with its secured and unsecured creditors…”

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