Yukos speeds payment to keep Kvaerner reconstruction afloat

Accelerated due diligence work by Yukos Oil's advisers has put restructuring plans for Kvaerner, the troubled Norwegian construction company, back on track with an early payment of Nkr400m (€50m).

Earlier this week Kvaerner and Yukos, the Norwegian company's 22.5% shareholder, feared that a Nkr3bn rescue rights issue for Kvaerner would be scuppered unless Kvaerner could quickly find a cash injection.

WSJ Logo