Sitrick and Company is handling communications for Pacific Exploration & Production Corp., the Canadian-Columbian oil company facing a significant debt burden and low energy prices.
After an April 10 Wall Street Journal report said Pacific's board nixed a restructuring meeting over shareholder concerns about its independence, the company sought April 11 to clarify and respond to a bevy of speculation about its future.
Pacific said its operations continue as normal and acknowledged receipt of a number of third-party proposals to restructure. It denied reports that management will be "given" equity in a restructured company, claiming instead such equity will be awarded based on performance-based incentives.
Current lenders and debt holders are expected to receive equity in a restructured company due to their expected "significant losses," the company said.
Pacific's board has formed an independent committee to weigh a restructuring.
Sitrick director Tom Becker in New York is advising Pacific on the PR front. Frederick Kozak heads IR for Pacific.
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Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
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