Restructuring
NETHERLANDS - Wendel's Stahl completes restructuring
It has been reported that Wendel-backed coating specialist Stahl International has successfully agreed a restructuring with lenders, with the firm injecting an additional EUR 60m in equity for an increase in its interest from 48% to 92%.
ITALY - Permira-led consortium to acquire Valentino debt
Permira is reportedly nearing an agreement over fashion house Valentino's EUR 2.2bn debt pile, with reports suggesting the private equity house alongside the Marzotto family and other investors are preparing to pay EUR 200-300m to buy back EUR 730m of...
SPAIN - PE-backed Amadeus seeks to amend debt prior to listing
Reports suggest that BC Partners- and Cinven-backed travel agency Amadeus is in negotiations with its lenders to amend the terms on its EUR 5bn debt pile prior to its planned flotation.
GERMANY - Pamplona's Saf-Holland completes restructuring
Pamplona Capital's portfolio company Saf-Holland, a manufacturer of commercial vehicle parts, has reached agreement with creditors on a financial restructuring and extension of its existing EUR 316m credit line until September 2014.
GERMANY - Oaktree to challenge DIC for Almatis
Reports suggest that distressed debt specialist Oaktree Capital is planning a takeover of Dubai International Capital-backed German alumina maker Almatis, in which it is a major creditor following the acquisition of debt on the secondary market.
ITALY – HAL-backed Safilo recap uncertain
Dutch investor HAL Holding today announced that it will extend the offer to eyewear manufacturer Safilo's bondholders to 27 November, as currently only 43.01% of bonds were tendered, versus the 60% acceptance rate HAL reportedly requires to complete its...
GREECE - PPF considers Wind bid
Czech private equity firm PPF Partners is rumoured to be considering a last minute offer to acquire indebted telecommunication business Wind Hellas, alongside Italian insurance firm Generali.
FRANCE - CVC and Cognetas lose CPI investment
CVC and Cognetas have lost their stakes in Chevrillon Philippe Industrie (CPI), a book printing group. The Paris-based company was taken over by its lenders led by Royal Bank of Scotland. RBS, 17 other creditors and management will now hold 100% of the...
FRANCE - Duke Street loses control of Navimo
Duke Street Capital-backed Navimo, a producer of yachting accessories, has completed a restructuring that sees the private equity sponsor lose its majority interest in the business.
GREECE - TPG drops out of Wind Hellas restructure bid
TPG has dropped out of the process to restructure mobile telecom operator Wind Hellas. Reports suggest that current owner Weather Investments and Aladdin Capital which co-ordinates holders of subordinated bonds worth around EUR 500m, are the only two...
NETHERLANDS - Carlyle could be sidelined in Stahl restructuring
Reports suggest that French listed investment firm Wendel has put forward a proposal for the restructuring of Stahl Holding BV, which, if approved, would leave co-investor Carlyle in the margins only three years after the two joined forces in the acquisition....
GREECE - Apax, TPG consider Wind Hellas debt
Apax Partners and TPG are considering investing new money into Greek telecom giant Wind Hellas (formerly TIM Hellas) as the company looks to restructure its EUR 3.2bn debt pile.
FRANCE - Apax-backed Financière Hélios granted further sauvegarde protection
Apax Partners-backed Financière Hélios, a holding vehicle that controls 43% of engineering company Séchilienne-Sidec, has been granted another month of protection by the Parisian courts under the 'sauvegarde' procedure.
GERMANY – Bain Capital could be losing Bavaria Yacht
According to reports, Bain Capital might be losing its stake in troubled yacht builder Bavaria Yacht.
GERMANY - Dubai Intl Capital and Oaktree drop Almatis co-operation
Reports suggest that Dubai International Capital (DIC) and distressed debt investor Oaktree have decided not to follow through on the restructuring plans for alumina-maker Almatis, which DIC acquired in 2007.
GERMANY - RHJ's Honsel in debt-for-equity swap
RHJ International's Honsel AG reduces debt by EUR 370m in debt-for-equity swap.
KKR-backed NXP launches debt swap; reduces debt by $225m
Dutch semiconductor business NXP, backed by KKR, AlpInvest, Apax, Bain, and Silver Lake, has made a debt swap, reducing its overall debt by approximately $225m.
BELGIUM - Apax- and Cinven-backed Truvo looks at debt alternatives
Reports suggest that Apax Partners-backed European directories business Truvo (formerly VNU World Directories) has appointed Houlihan Lokey as financial adviser to help assess options on how to deal with its EUR 1.2bn debt pile, which could include a...
SPAIN - First Reserve-backed 9REN completes EUR 100m financing
First Reserve Corporation-backed renewable energy producer 9REN has completed the financing of a 14.7MW photovoltaic project in Southern Spain, raising over EUR 100m.
FRANCE/GERMANY - PAI set to lose Monier to creditors
PAI partners has seemingly resigned itself to losing control of of troubled roofing business Monier Group (formerly Lafarge Roofing), after the lending consortium led by distressed investors Apollo, TowerBrook Captial and York Capital submitted a counter...
GERMANY – Consortium offers debt restructuring to PAI partner's Monier
According to reports, a consortium of distressed investors including Apollo Management, TowerBrook Capital and York Capital have approached the lenders of roofing material company Monier GmbH with a debt restructuring proposal. The investors have already...
UK - Gresham-backed Betts acquired by lenders
Gresham-backed toothpaste tube maker Betts Global has been acquired by its lenders in a pre-pack administration after breaching its banking covenants.
UK - EQT-backed SSP in danger of breaching covenants
Reports suggest that rail station caterer Select Service Partner (SSP) is in talks with its lenders, as falling commuter numbers have led to concerns that the company will breach the covenants on its ТЃ1bn debt.
UK - Octopus completes £2.65m CSL refinancing
Octopus Investments has refinanced alarm systems supplier CSL Dualcom Ltd, providing a ТЃ2.65m interest-only term loan.