MILACRON
Sale of assets to creditors for USD 175m confirmed
Machinery manufacturer Milacron (Cincinnati, Ohio / USA; www.milacron.com) has finalised the agreement to sell “substantially all” of its assets to its creditors for USD 175m in a debt-to-equity swap. The company, which filed for Chapter 11 protection on 10 March 2009 and announced the sale in principle on the same day – see Plasteurope.com of 12.03.2009 – will be acquired by affiliates of Avenue Capital Group, certain funds and/or accounts managed by DDJ Capital Management and other businesses that together hold approximately 93% of the company's senior notes.
14.05.2009 Plasteurope.com [213401]
Published on 14.05.2009
German version of this article...