–Adds details on Lazard and its hiring financial legend Felix Rohatyn
PARIS (MNI) – Lazard & Co. Tuesday confirmed that it has been hired
by the Greek government but indicated that a restructuring of Greek debt
is not on the table.
“Lazard confirms that it has been hired to assist the Greek
authorities. It is to be noted that a restructuring of Greek debt has
never been an option to be considered,” the financial advisory company
said in a short written statement.
A spokeswoman for the Greek Finance Ministry in Athens said, “we
haven’t hired them for restructuring advice.”
EuroWeek magazine first reported last Friday that Greece had hired
Lazard, saying it was for a “potential restructuring.”
Zero Hedge, which cited the EuroWeek article, noted that “Lazard is
also no stranger to sovereign reorganization, having worked with
Nicaragua, Ecuador and Ivory Coast on various restructuring
assignments.”
Recently, with Greece already in a full-blown crisis, Lazard hired
Wall Street legend Felix Rohatyn, whose most famous credits include
restructuring the debt of New York City in the 1970s.
“The recent retention of Rohatyn just when Greece was imploding
maybe have been clutch for Lazard,” Zero Hedge wrote.
–Paris Newsroom, +331-42-71-55-40; paris@marketnews.com
[TOPICS: M$$EC$,M$$CR$,M$X$$$,MGX$$$,MT$$$$]
