Oaktree Capital, NewPage Holdings
: In a passive filing just released, Howard Marks
's Oaktree Capital Management just disclosed a 15.8% stake in the privately-held NewPage Holdings. The papermaker filed for bankruptcy at the end of last year and Marks has been fighting for a controlling position ever since.
It's worth mentioning that Marks and Oaktree have held first lien notes from NewPage for more than a decade now, but today's SEC filing marks the first time we've gotten a look at exactly how much stock Oaktree owns since the company became a 1934 act reporting entity this past summer.
NewPage filed for Chapter 11 bankruptcy at the end of last year and went through a process of financial restructuring. In the second quarter of this year, NewPage reported a net loss of $13 million, versus $84 million in the same period of 2012. The net sales of the company amounted to $720 million, slightly less than in the same period of last year.
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