Scholz Holding GmbH
Scholz Holding GmbH: Scholz Holding enters into exclusivity with KKR Credit on comprehensive recapitalisation of Scholz Group
Scholz Holding GmbH / Key word(s): Bond 15.04.2016 10:01 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press Release Scholz Holding GmbH London, 15. April 2016 Scholz Holding enters into exclusivity with KKR Credit on comprehensive recapitalisation of Scholz Group Scholz Holding GmbH, one of the leading international recycling companies, announces that it has entered into exclusivity with KKR Credit ("KKR") over a comprehensive recapitalisation of its balance sheet. As part of the planned transaction, KKR together with certain of the company's lenders intend to provide a substantial injection of long-term capital. This will secure the Group's future by significantly de-leveraging the Group and will provide additional new money to fund working capital and new business growth. The transaction remains conditional upon approvals from certain of the Group's stakeholders, which Scholz Holding is confident will be forthcoming in short order. "The intended support from KKR, one of the world's leading financial investors, is a great step forward for Scholz Group. It's a very important signal to our staff, customers, suppliers and other business partners after a long period of uncertainty due to the ongoing restructuring process," said Oliver Scholz, CEO of the Scholz Holding GmbH. "This transaction would not only provide our Group with a substantial capital injection, but help us to optimise our capital structure and create significant financial headroom. We will use this headroom as well as the renowned turnaround expertise of the KKR team to develop our business further, build upon the substantial improvements our Group has made in the restructuring process that began in 2013." Scholz Holding also notes that a recent attempt to upset the restructuring process by a single bondholder was rejected out of hand by the Court in Aalen. In line with the company's request, the Court rejected the frivolous and obviously unfounded claim. Scholz Holding is considering what actions it may have for any damage caused as a result of the frivolous claim. Contact details for Scholz: Frank Elsner Kommunikation für Unternehmen GmbH Frank Elsner Tel.: +49 89 99 24 96 30 E-Mail: office@elsner-kommunikation.de Contact details for KKR: HERING SCHUPPENER Consulting GmbH Sebastian Krämer-Bach Tel.: +49 (0)69 92 18 74 53 E-Mail: skraemer-bach@heringschuppener.com 15.04.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Scholz Holding GmbH Office Number: 610, 68 King William Street EC4N 7DZ London United Kingdom Phone: 0044 20 7959 2291 Fax: E-mail: infoscholz@scholz-group.com Internet: www.scholz-group.com ISIN: AT0000A0U9J2 WKN: A1MLSS Listed: Open Market in Frankfurt ; Wien (Geregelter Freiverkehr / Second Regulated Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden