Panrico’s creditors have struck a deal to take control of the ailing Spanish baker, reports said today (5 July).
The company’s creditors have signed an agreement with Panrico’s current owner, private-equity firm Apax Partners.
Go deeper with GlobalData
Apax had reportedly been looking to sell the business, which it snapped up in 2005.
However, Apax and Panrico’s creditors have worked on a deal that will see the company’s debts fall from EUR605m (US$758m) to EUR350m, reports in Spain said.
Officials for Panrico could not be reached for immediate comment. Apax declined to make a statement.
GlobalData Strategic Intelligence
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
