Monier Restructuring Delayed

LONDON (Reuters) – Last-minute talks have delayed the restructuring deal for French building materials company Monier Group, a portfolio company of PAI Partners, three sources with knowledge of the situation said.

The 1 billion euro ($1.41 billion) debt-for-equity deal is now due to sign on Thursday, the sources said. It had been expected to be signed on Monday. 

The lenders driving the deal had aimed to complete the agreement before June 30 when Monier is due to make a large interest payment on its debts, which total nearly 2 billion euros.

(Reporting by Tom Freke; editing by Quentin Webb)

($1=.7077 Euro)