A group of Eastman Kodak debt investors seeking to influence how the company handles a restructuring has hired the Blackstone Group as a financial adviser, according to a source familiar with the situation. The investors also hired law firm Akin Gump Strauss Hauer & Feld several weeks ago, sources familiar with the situation previously told Reuters.The hiring of the financial advisory team was previously reported by Leveraged Commentary & Data, a Standard & Poor's publication.A Blackstone spokeswoman declined to comment.Kodak earlier this year drew down on its revolving credit facility and on Nov. 3, told investors that it may need to issue new debt or complete a multibillion-dollar patent sale to survive the next year.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.28% or $0.04/share to $14.43. In the past year, the shares have traded as low as $11.22 and as high as $19.63. On average, 4629410 shares of BX exchange hands on a given day and today's volume is recorded at 2783395.
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