Our restructuring and finance teams advised the Luxembourg companies of the Takko Fashion Group on its financial restructuring following a binding lock-up agreement with its shareholders, bondholders and banks.
The restructuring of the Group:
- was implemented by means of a debt-for-equity swap by which creditors of the Group acquired a majority stake in the company through a NY-law governed tender offer and consent solicitation process, launched by two Luxembourg entities of the Group
- reduced leverage by more than EUR 250 million and extended maturities until 2026
Takko Fashion is one of the leading smart fashion discount chains in Europe, with almost 2,000 stores in 17 countries. With this new capital structure, the Takko Fashion Group is positioning itself for long standing growth and will be able to continue offering its fashion products at an attractive price across Europe.
For more information, don’t hesitate to reach out to one of the following advisers on the transaction.