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Joele Frank handles Denbury Resources as a Texas court approves its pre-packaged bankruptcy plan to restructure its balance sheet to eliminate $2.1B in debt.
The Plano, TX oil and gas company filed for Chapter 11 due to soft energy prices/demand, negative impact of COVID-19 and heavy debt.
The company focuses on the Gulf Coast and Rocky Mountain regions and specializes in retrieving reserves from mature fields with its carbon dioxide enhanced oil recovery operations.
CEO Chris Kendall expects Denbury to emerge from Chapter 11 in mid-September as a stronger business with significant financial flexibility.
Joele Frank, Wilkinson Brimmer Katcher’s Andrew Siegel, Michael Freitag and Andrew Squire represent Denbury.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
Burson Buchanan handles AAR Corp as the supplier of parts and services to the aviation market acquires a 65 percent stake in MRO Holdings.
The financial services industry thinks it needs more communications, when the real issue is credibility—and that requires entirely different solutions.
