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Pendulum backs E&T restructure

PETER Fogarty’s Pendulum Capital Pty Ltd has struck a deal with Evans & Tate Ltd’s major lender, ANZ Banking Group, to restructure the winemaker’s balance sheet and underwrite a $16.7 million non-renounceable rights issue. The corporate advisory firm could fork out up to $19.3 million in return for about 40 per cent of the winemaker’s issued capital.

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