Quebecor aims to acquire Corus, seeking a 60% debt write-off to facilitate the purchase.
Quebecor Inc. aims to acquire Corus Entertainment, seeking a write-off of over 60% of Corus's $1.05 billion debt to facilitate the purchase. This Montreal-based telecom giant first approached Corus in January. Lenders, including the Royal Bank of Canada and Toronto-Dominion Bank, are granting Corus time to resolve its financial issues rather than accepting significant loan losses. Corus has substantial secured and unsecured debts due in the coming years.
September 29, 2024
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