Peach Property Holders Approve Share Sale, Boot Ares Off Board [Yahoo! Finance]
Ares Management Corporation Class A (ARES)
Last ares management corporation class a earnings: 2/13 06:00 am
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Source: Yahoo! Finance
Most Read from Bloomberg The company plans to sell about 113.6 million Swiss francs ($134.6 million) of new shares through a rights offering by the end of October, according to a statement Friday. With Peach Property facing almost €600 million in debt coming due in 2025, the capital increase has been seen as key in negotiations with creditors over refinancing talks. The stock sale, approved Friday at a shareholder meeting, is intended to “strengthen the group's liquidity, reduce debt and finance upcoming investments in the portfolio,” Peach Property said. However, the meeting also highlighted the divisions among Peach Property's investors. Shareholders voted to remove John Ruane, co-head of European real estate at investment firm Ares Management Corp., and Annette Benner, a restructuring partner at law firm Greenberg Traurig, from the board. Ares owns almost 30% of Peach Property, a stake it acquired through a convertible bond. Ares declined to comment. Stock Gains The pr
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ARES
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ARES
Earnings
- 8/2/24 - Miss
ARES
Sec Filings
- 9/19/24 - Form 4
- 9/19/24 - Form 144
- 9/18/24 - Form 144
- ARES's page on the SEC website