01/29/2010

PIE - News-Ticker on Plasteurope.com

Linpac: Packaging manufacturer completes financial restructuring

International packaging manufacturer Linpac Group (Birmingham / UK; www.linpac.com) has successfully completed its debt restructuring following approval from shareholders and lenders. Its previous debt of GBP 600m (EUR 660m), has been halved, with ownership having been transferred to the pre-existing banking syndicate, which has also injected additional cash into the group. Former owner, Montagu Private Equity (London / UK; www.montagu.com), which paid GBP 860m for the company in 2003, no longer has any stake in the business.


The restructuring has not affected Linpac's operating companies and the group says the new ownership will continue to invest in the business and support customers with innovative products and services.

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