VER Agrees to Merge with PRG, Announces Chapter 11 Filing
LOS ANGELES — VER announced that, as part of a comprehensive transaction supported by its second lien lenders, including funds managed by GSO Capital Partners, it has entered into an agreement to merge with an entity controlled by Production Resource Group LLC (“PRG”). To facilitate the implementation of this pre-negotiated transaction, VER filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on April 5, 2018. These filings only affect the Company’s North American operations.
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