FRANCE: Bruce Willis to approve Belvedere plan - report
Belvedere has been under bankruptcy protection for four years
Actor Bruce Willis, a shareholder in French drinks group Belvedere, is to vote in favour of the company's restructuring at a shareholders meeting next week, a French newspaper has reported.
Willis, who owns a 3% stake in Belvedere, said restructuring will save jobs and is the only option that makes sense, according to Le Figaro yesterday (4 January). Shareholders including Willis, who received his stake in return for promoting the company's Sobieski vodka brand, will vote on 12 February on restructuring plans set out by Belvedere's administrators, the report said.
The company has been in bankruptcy protection for four years and last year agreed to repay creditors through asset sales and stake transfers. In November, a senior executive at Belvedere confirmed to just-drinks that the company's receivers had received several offers for some Belvedere assets.
Belvedere is struggling with debts, which are thought to total in the region of EUR400m (US$518.6m).
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