Afren enters administration

摘要

London-listed independent Afren has entered administration after failing to gain support for a proposed refinancing and restructuring. Afren’s shares were suspended on 15 July, when the Africafocused company said it was unable to assess its own financial position. Afren warned that its production would be materially lower than it anticipated when it arranged an agreement with bondholders to keep the company afloat in March.