Hawaiian Telcom To Petition PUC for Black Diamond's Increased Stake
Hawaiian Telcom agreed with Black Diamond Capital Management to back the investment firm's petition to the state's Public Utilities Commission to increase its ownership of the telco's stock to as much as 31.5 percent from 23 percent, the telecom firm…
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said in a Thursday news release. It said that as part of the deal, which includes the investment firm's getting a representative on the telco's board (see 1602260042), Black Diamond agreed to standstill and support commitments for a three-year term.