Diversified Chemicals

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Hansa Group AG concludes an agreement to reduce the financial liabilities

Wednesday, 26 Mar 2014 04:42am EDT

Hansa Group AG:Signed an agreement with its financing banks which sets a binding frame for the operational and financial restructuring, following the signing of the announced restructuring framework and loan agreements with one of its main shareholders, financing banks and central financing partners.The agreement stipulates a reduction of the financial liabilities owed to financing banks and central financing partners from 109 million euros (as of Sep. 30, 2013) to approximately 46 million euros by late summer 2014.This results in a reduction of financial burdens of the remaining yearly redemption payments.The remaining obligations have a lifetime of up to 10 years and thus allow for a long-term and stable financial framework.Next to this debt relief it is intended to strengthen the company's equity by way of capital increases in an amount of maximum 48 million euros.

Mitsubishi Chemical Holdings Corp to transfer business to subsidiary

Tuesday, 25 Feb 2014 02:00am EST

Mitsubishi Chemical Holdings Corp:To transfer its health care solution business to its Tokyo-based wholly owned subsidiary, which engages in operation management of group companies engaged in health care related business.Transfer to be conducted on April 1.

Hansa Group AG announces updates regarding restructuring and issues financial guidance for 2015

Friday, 31 Jan 2014 12:54pm EST

Hansa Group AG:Announces that it has reached an agreement with all financing banks as well as key financing partners and Hansa Trust International AG's principal shareholders regarding a concept for a sustained financial restructuring of the company.Says settlement reached with the lenders will reduce debt by more than half.Says capital measures in the mid-double-digit million range designed to considerably strengthen the company's equity are also planned and will be borne to a degree by the principal shareholders.Says it expects to generate significantly positive earnings in 2015.

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