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CNG's 45,000 U.K. Business Customers May Need New Gas Supplier

From bnnbloomberg.ca

About 45,000 U.K. business customers who buy natural gas from CNG Group Ltd.’s retail arm could be told in a matter of days they’ll need a new supplier as the company tries to sell its operations. CNG, which has debts to shareholder Glencore Plc, supplies gas directly to small- and medium-sized businesses across the country, including schools and restaurants. Friday is the deadline for bids to purchase those contracts via restructuring advisers Interpath Advisory, according to people familiar with the matter who asked not to be named because the discussions are private. If those business accounts are closed or aren’t ... (full story)

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  • Category: Fundamental Analysis