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White & Case LLP

Acosta Reaches Agreement with Creditors to Eliminate the Company’s Long-Term Debt

Reorganization and Recapitalization Will Leave Acosta with the Strongest Balance Sheet in the Industry Acosta, Inc.,  a full-service sales and marketing agency, announced that it has reached an agreement with more than 70% of its lenders and more than 80% of its noteholders, each by principal amount, on the terms of a comprehensive reorganization and recapitalization. The deal will eliminate all of the Company's approximately $3 billion of long-term debt.  Further, investors have committed $250 million in new equity capital…