Eniro’s composition proposal is not supported by the holders of convertibles but is accepted by the bondholders and other creditors. Eniro’s parent company intends to apply for judicial composition.
On 18 May 2020, the parent company in the Eniro group, Eniro AB (publ), announced a composition proposal and initiated proceedings to assess the possibilities to complete the composition within the framework of the ongoing company reorganisation (Sw. företagsrekonstruktion). A sufficient majority of the bondholders and other creditors have accepted the composition, however, no approval has been received from the holders of convertible bonds since the required number of votes cast was not met. Eniro AB therefore intends to submit a proposal for a judicial composition (Sw. offentligt accord).