January 23, 2020 / 1:00 AM / a month ago

PG&E strikes deal with creditors over restructuring

Jan 22 (Reuters) - Bankrupt California power producer PG&E Corp said on Wednesday it had reached a deal on its restructuring with creditors who were pushing for a rival plan.

PG&E said its creditors, led by Elliott Management and Pacific Investment Management Co, would drop their reorganization plan and support PG&E's proposal, pending approval by a bankruptcy court. (Reporting by Rama Venkat in Bengaluru; Editing by Shailesh Kuber)

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