Celtic Roads Group (Waterford), the owner of the N25 Waterford bypass, is asking creditors to vote on a restructuring plan to rescue the ailing business which has secured debts of around €200 million. In an upcoming meeting on July 20, senior creditors will vote on a scheme of arrangement to significantly write down the company’s loans and engage in a debt for equity swap. It comes as new owners step in to take over the toll road, owned until now by Dutch engineering group BAM, Altas Investments (formerly NTR), and the Spanish construction group ACS. As reported by Ian Kehoe…

Join The Currency

INTRODUCTORY OFFER: Full annual membership for just €200.

Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators.

Members of The Currency get full access to over 4,000 exclusive interviews, investigations, and analysis, plus over 460 podcasts.

Annual membership is just €200 for the first year, a saving of €100.

Or try The Currency for the first month for a special introductory rate of €5, a saving of €20.

Cancel at any time.

To become a member today click here.