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Domaine de Grand Pré’s Recipe for Award-Winning Service and Hospitality | SaltWire -Scandinavian airline SAS secured an investment agreement with a consortium for restructuring aid of 13.2 billion Swedish crowns , with a loan from Castlelake replacing its previous debtor-in-possession financing by Apollo Global Management, the carrier said on Saturday.
In October, the company said Castlelake would take a stake of about 32%, while Air France-KLM's will be around 20% and the Danish state will hold about 26%, adding that total investments in the reorganized SAS would amount to $1.16 billion. The company now seeks U.S. Court approval of the investment agreement and the new debtor-in-possession financing as soon as possible in November.