Wise financing deal gives Ala. agency option for stake

Oct 04, 2007 | 07:53 AM | Paul Schaffer

Wise Metals Group LLC has entered a financing deal that opens the door to an Alabama agency gaining a 25-percent stake in the company.

Wise said Thursday it has obtained $75 million in financing from Retirement Systems of Alabama through a new convertible preferred equity transaction. As part of the arrangement, the state-sponsored entity has the option of later converting its new securities into....





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