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Teo family said to cede control of PIL

Proposed debt restructuring will significantly dilute the family’s equity interests in the Singaporean shipping line, rendering a loss of its status as the company’s controlling shareholder. Bank creditors are also asked to take deep haircuts in order to reach a settlement

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Unconfirmed market talks priced Temasek’s investment package at $400m, but some have considered that amount insufficient to keep the company afloat

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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