BRIEF-American Industrial Partners to acquire Rand Logistics (RLOG)

Business Insider UK

Updated 21 November 2017 at 9:57 pm

Nov 21 (Reuters) - Rand Logistics Inc -

* AMERICAN INDUSTRIAL PARTNERS TO ACQUIRE RAND LOGISTICS, INC.

* ‍AMERICAN INDUSTRIAL PARTNERS HAS AGREED TO ACQUIRE CO

* ‍UNDER TERMS OF AGREEMENT, AIP AGREED TO CONVERT ALL OF CO'S SECOND LIEN DEBT INTO 100% OF NEW COMMON EQUITY OF REORGANIZED COMPANY

* CO'S BUSINESS TO CONTINUE UNINTERRUPTED PENDING COMPLETION OF TRANSACTION

* ‍TRANSACTION WILL MATERIALLY DE-LEVER COMPANY'S BALANCE SHEET, ELIMINATING APPROXIMATELY $90 MILLION IN OUTSTANDING DEBT Source text for Eikon: Further company coverage:

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BRIEF-American Industrial Partners to acquire Rand Logistics (RLOG)

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