Loyens & Loeff Luxembourg acted as local legal counsel in the debt restructuring of the Famar Group
Loyens & Loeff Luxembourg acted as local legal counsel in the debt restructuring of the Famar Group, one of Europe’s leading service providers to the pharmaceutical industry.
We assisted with the corporate legal implementation advice, the solvency advice during the conciliation and mediation process, the tax structuring aspects of the debt restructuring and the finance related advice for the new money injection and related security package.
The transaction involved a complicated restructuring of existing debt and a lender led acquisition of the group with a new money injection. It was complex due to the large number of lenders and the different lender groups with varying interests, rankings and creditor rights. The Famar Group operates in a number of jurisdictions, such as Luxembourg, France, Spain, Italy and Greece, all of which required attention in the restructuring process.
Pillarstone was the new money provider with other interested lenders being the largest four Greek banks and other lenders, such as Bain Capital and GSO. The Famar group employs approximately 3,000 persons in its different operating jurisdictions.
Our Corporate, Banking & Finance and Tax teams, led by Michael Scott, Anne-Marie Nicolas and Peter Moons, combined their expertise in advising the Famar Group on this restructuring.
Michael ScottPartner Attorney at law / Solicitor / Avocat à la Cour
Michael Scott, partner, is a member of the Corporate Practice Group in our Luxembourg office and co-heads the Luxembourg Restructuring Team. He focuses on private equity transactions, mergers and acquisitions and distressed debt restructurings. He mainly advises US and UK based clients investing through Luxembourg to European or other target jurisdictions.T: +352 466 230 294 M: +352 691 963 026 E: [email protected]
Anne-Marie NicolasPartner Attorney at Law / Avocat à la Cour
Anne-Marie Nicolas, partner, is a member of the Banking & Finance Practice Group in our Luxembourg office. She co-heads the Luxembourg Restructuring Team. Anne-Marie focuses on secured lending, including acquisition finance and real estate finance, as well as debt restructuring.T: +352 466 230 314 E: [email protected]
Peter MoonsPartner Attorney at law / Avocat à la Cour / Tax adviser
Peter Moons, partner, is a member of the Tax Practice Group in our Luxembourg office. He focuses on cross-border corporate tax advice for multinationals and funds, in particular private equity funds, their initiators and their investors.T: +352 466 230 244 E: [email protected]