A deal could take the form of a debtor-in-possession (DIP) financing deal, the report said.
The company filed for bankruptcy in November last year, the second of former billionaire Eike Batista’s to do so in the space of a week. Batista, at one point the world’s seventh richest man, has been forced to dismantle his billion-dollar commodities and logistics empire after falling behind on debt repayments.
OSX is looking to raise up to $215m in refinancing to aid its restructuring.
Founded in 1992, Cerberus has focused on distressed investing since its inception. It currently has over US $25bn under management invested in distressed securities and assets, control and non-control private equity, corporate mid-market lending and real estate-related investments. Most recently the firm sold a land parcel in Tokyo to Japanese general contractor Shimizu Corp.
Copyright © 2014 AltAssets