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Osmond close to Pearl debt restructure

Hugh Osmond is in the final stages of agreeing a debt restructure of his Pearl Group, according to The Sunday Times.

The paper reports that the firm’s consortium of 17 banks met last week and are expected to sign off on a deal in the coming days.

Osmond is likely to see his stake in the company slashed to 30 per cent, the paper states. It claims the total debt pile of the Pearl empire will drop from £3bn to £2.6bn.

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