UPDATE 1-PG&E nearing $13.5 bln deal with wildfire victims -Bloomberg

4 Dec by Vitaliy Dadalyan

UPDATE 1-PG&E nearing $13.5 bln deal with wildfire victims -Bloomberg

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UPDATE 1-PG&E nearing $13.5 bln deal with wildfire victims -BloombergBankrupt California power producer PG&E Corp is close to finalizing terms for a $13.5 billion payout to victims of wildfires triggered by its power lines, Bloomberg reported on Wednesday, citing people familiar with the matter. The company had proposed paying the victims no more than $8.4 billion in September. The wildfire victims had opposed the company’s reorganization plan and allied themselves with PG&E bondholders, who proposed their own reorganization plan.