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SunVesta forms special committee to evaluate strategic alternatives

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SunVesta forms special committee to evaluate strategic alternatives

SunVesta Inc. appointed Gabriel Margent and Alex Rosenzweig independent directors and set up a special committee of independent directors to evaluate potential strategic alternatives.

The real estate development and investment group said the special committee will evaluate one or more strategic actions in light of the company's approximately CHF45 million of unconsolidated debt and the additional efforts required to complete the hotel project in Costa Rica, managed by its Sunvesta Holding AG unit.

SunVesta added that Margent and Rosenzweig, who have been appointed to fill board vacancies created by the resignations of two previous directors, comprise the special committee.

Margent worked at Merrill Lynch for more than 20 years, while Rosenzweig spent the majority of his career advising companies on restructuring processes and corporate strategy through his consultancy, Equitech Research.