Avenue Capital Urges Ocean Rig To Hire Advisers
Oct 17 (Reuters) - Ocean Rig UDW's fifth-biggest investor Avenue Capital Group on Tuesday urged the offshore driller to hire advisers to review "opportunities", a day after top investor Elliott Management made a similar demand.
The hedge fund said it intends to hold discussions with Elliott and second-biggest investor BlueMountain Capital Management LLC.
Avenue Capital urged the company to look at changes to its capital structure, asset utilization and possible strategic deals.
The fund has a 7.63 percent stake in Ocean Rig as per Thomson Reuters data.
(Reporting by Taenaz Shakir; Editing by Sriraj Kalluvila)
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