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E-Star proposes debt-to-equity conversion

Troubled energy services company E-Star Alternative on Thursday said it will propose to creditors the conversion of its liabilities into equity. Under the proposal, creditors would get one of 50 million new shares issued for every HUF 367 E-Star owes. The total amount of the equity adds up to HUF 18.35 billion, roughly level with the company's registered liabilities.