USA: Unifi Receives Distribution From Parkdale America
Unifi and Parkdale Mills have completed a restructuring of the balance sheet of their jointly owned company, Parkdale America, LLC. As a result of the restructuring, a distribution in the form of a return of capital has been made by Parkdale America to Unifi and Mills in amounts proportionate to their respective percentage ownership interests in America. The distribution received by Unifi of $49.2m will be applied to the retirement of outstanding debt. Following completion of the restructuring and distribution, Unifi will retain a 34 per cent ownership interest in America.
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