Synagro's Ch 11. Plan, $480M Buyout Gets Judge's Nod

Law360, Wilmington (August 20, 2013, 8:26 PM ET) -- Biosolids recycling company Synagro Technologies Inc. won approval Tuesday of its Chapter 11 plan that aims to see Swedish private equity firm EQT Holdings acquire stock in the reorganized company in a $480 million deal, including $465 million in cash to go toward creditors.

U.S. Bankruptcy Judge Brendan L. Shannon gave the plan the green light at a hearing in Delaware, noting Synagro's bankruptcy process was conducted on a “largely consensual basis” and that the company had overwhelming creditor support.

“I will approve and confirm this...
To view the full article, register now.