Eircom Group has said the three companies placed under examinership in March have successfully exited examinership.
The three companies are Eircom Limited, Meteor Mobile Communications Limited and Irish Telecommunications Investments Limited.
The company said a simplified capital structure is now in place and a new holding company, to be named Eircom Holdings (Ireland) Limited, has been created.
The equity is wholly owned by the group's lenders.
Singapore Technologies Telemedia and the Employee Share Ownership Trust (ESOT) are not shareholders in the new group structure
Ned Sullivan continues as the company's independent non-executive chairman, Nicky Hartery as an independent non-dxecutive Director and Paul Donovan, Group CEO, as executive director.
The company said that further board appointments will be announced in due course.
It said that the examinership provides the basis for a more sustainable capital structure, with €1.7 billion of debt removed from the balance sheet, a reduction of 40% of group debt.
This allows the company to progress with the execution of the five year business plan supported by the board and its lenders, it added.
"A new chapter for the group begins today. Our new shareholders are fully committed to a strong future for Eircom. Having successfully navigated examinership and the consequent restructuring of the balance sheet, the group can look forward to executing the next phases of its strategy,'' said chairman Ned Sullivan.
