Holidays mean extra month for Dometic deal-sources
LONDON, July 30 |
LONDON, July 30 (Reuters) - Lenders to private equity-owned Dometic have granted the company an extra month to secure a restructuring deal, three sources close to the situation said on Thursday.
The Swedish refrigerator company, bought by BC Partners in 2005 for 1.1 billion euros ($1.55 billion), is looking for a deal to slash its debt and bring an injection of new cash.
Lenders, including Mizuho (8411.T) and Unicredit (CRDI.MI) last week gave the company until Thursday to find a restructuring deal but this deadline had to be pushed back four weeks because many of the lender syndicates are on holiday, a lender source said.
There are three competing restructuring proposals in front of the lenders, two from creditors and the third from BC Partners [ID:nLR306827]. (Reporting by Tom Freke; Editing by Rupert Winchester)
($1=.7095 Euro)
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