Investors circle China Aviation

China Aviation Oil, the collapsed Singapore-listed trading company hit by $550m (€468m) derivatives losses late last year, has reportedly attracted interest from at least three new investors which could help fund a restructuring plan in which creditors will get 54 cents in the dollar.

The $510m restructuring deal is dependent on a $130m payout from CAO's parent, CAO Holdings which now hopes to sell 25% of the Singapore unit's equity to several investors for about $55m, The Wall Street Journal reports, citing a person familiar with the company's plans.

WSJ Logo
How Trump Got His ‘Big, Beautiful Bill’ Across the Finish LineExternal link

How Trump Got His ‘Big, Beautiful Bill’ Across the Finish Line