Chesapeake completes restructuring

摘要

Chesapeake confirms that it has completed its previously announced financial restructuring through an acquisition by private equity institutions Irving Place Capital Management, L.P. and Oaktree Capital Management, L.P. together with management. The sale effectively marks the completion of the reorganisation of Chesapeake's United States ope,rations and its transition from being a publicly traded company listed in the United States to a private company headquartered in Europe. Chesapeake will now operate as a private, independent, global company led by Jerry Kerins, who has been named Chairman and Chief Executive Officer. "With the financial backing of our new partners, we are ideally positioned to support and continue to grow with our customers," said Mr Kerins.