Synagro incorporates proposed sale into plan of reorganization
Synagro Technologies, Inc. has reached an agreement with its key stakeholders to pursue its proposed sale agreement with EQT Infrastructure II through a comprehensive plan of reorganization.
The company filed the proposed plan of reorganization and the related disclosure statement on July 3.
EQT Infrastructure II, the second fund within the infrastructure investment strategy of EQT, in April agreed to purchase Synagro through a sale under Section 363 of the U.S. Bankruptcy Code. By changing the transaction to a sale through a plan of reorganization, the company will be able to accomplish its restructuring efforts and close the transaction with EQT in a timely manner without requiring assignment or other changes to its customer, vendor and other contractual relationships.