GERMANY – Former Permira-portfolio company Kiekert Group receives EUR 20m

Morgan Stanley, Bluebay, and Silverpoint injected EUR 20m of new capital into troubled automotive supplier Kiekert AG. This move is complemented by concessions regarding Kiekert AG’s interest charges. In 2000, Permira (then known as Schroder Ventures) acquired a 75% stake in Kiekert AG in a leveraged buyout for around EUR 530m. Permira lost its stake, estimated to have been worth more than EUR 110m, after a debt-for-equity swap with banks and hedge funds.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH