Reported 1 day ago
Swedish real estate company SBB announced that U.S. hedge fund Fir Tree Partners has dropped remaining legal proceedings against it, leading to a 5.8% increase in its share price. Fir Tree had sought immediate debt repayments from SBB since 2023, citing a bond clause breach, claims which SBB denied. The decision eases some of SBB's liquidity concerns, although the company still faces significant short-term debt that needs refinancing in 2025.
Source: YAHOO