Daily News: January 16, 2012

Kodak Said to Be in Advanced Talks With Citigroup on Financing

A Bloomberg article has reported that Eastman Kodak is in discussions with Citigroup for it to provide bankruptcy financing as the troubled company prepares for a possible bankruptcy filing.

The article noted that Kodak may seek approximately $1 billion in debtor-in-possession (DIP) financing from Citigroup. In its possible filing, the company might then hold an auction to sell its patent portfolio, the article said.

To read the Bloomberg article in its entirety, click here.