OGX Petroleum hires Blackstone in move toward debt restructuring

|By:, SA News Editor

OGX Petroleum (OGXPY.PK) reportedly has hired restructuring bankers at Blackstone (BX) to provide financial advice, another step that might take the deeply indebted Brazilian company closer to a debt restructuring.

OGX creditors also are seeking specialized advice, as a group of 5-10 is in talks to hire an investment bank to advise them - Rothschild is said to be among the candidates - and a decision is expected to be made in a matter of days.