A.T.U. sold in restructuring deal

5th December 2013 | 0 Comments
A.T.U. sold in restructuring deal
Hans-Norbert Topp says the deal will write a new chapter in A.T.U.’s history

German-owned fast-fit network A.T.U. reports reaching a “decisive milestone in its financial repositioning.” The loss-making company’s management and majority shareholder (private equity group KKR) have reached a lock-up agreement with more than 80 per cent of its key bond creditors to reduce A.T.U.’s debt by more than €600 million and inject some €100 million of fresh equity into the firm. In addition, A.T.U. has received a senior secured, 2018-due credit line of more than €75 million from HayFin Capital Management.

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