Internet Gold announces creditor approval of Searchlight transaction

By Caroline Salls

Pittsburgh, July 30 – Internet Gold – Golden Lines Ltd.’s creditors unanimously approved its previously announced Searchlight transaction at a meeting held on Tuesday, according to a news release.

Internet Gold said its debenture trustee held preliminary meetings with holders of each series of debentures before the creditors’ meeting.

The trustee announced that all of the holders of series D debentures who participated in the meeting, representing 54.65% of the outstanding par value of the series D debentures, voted in favor of the approval of the transaction.

The series C debenture meeting was cancelled for lack of a quorum, but the company said the trustee announced that all holders of the series C debentures who did participate in the meeting voted in favor of approval.

In addition, Internet Gold said B Communications Ltd.’s debenture holders approved the Searchlight transaction at a meeting held on Monday.

Following a shareholders’ meeting scheduled for Aug. 8, the company said it will approach the Tel Aviv-Jaffa District Court to seek court approval of the transaction.

Internet Gold is a telephone and internet provider based in Ramat Gan, Israel.

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