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.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here
Comments
Comments closed

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.