Alliance Medical Ltd.’s board has agreed to sell the company to help repay debt following a demand by the senior lenders of the U.K.-based medical imaging company, a person with knowledge of its restructuring said.
Alliance Medical’s adviser, Blackstone Group LP, has begun contacting potentially interested parties, the person said, declining to be identified because the information is private. Senior lenders of Alliance Medical will simultaneously begin work on an alternative debt-restructuring proposal to the one suggested by Alliance’s owner, Dubai International Capital LLC, and junior mezzanine lenders on July 15, the person said.
Spokesmen for Dubai International Capital and Alliance Medical, based in Warwick, England, declined to comment. A call to Blackstone’s office in London wasn’t answered.
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