Source: Adsale Industry Portal 2456.com
SGD Group, the world-leading manufacturer of high-end glass containers for the perfume and pharmaceutical industries, and Oaktree Capital Management Ltd ("Oaktree") announce that they have reached a unanimous agreement with all stakeholders to strengthen the financial structure of SGD and massively decrease its debt.
The agreement was also approved by the French legal authorities.
The agreement anticipates Oaktree taking a majority stake of as much as 80% in SGD, with the remaining 20% being held by a pool of creditors.
Consequently, SGD is immediately launching a ａ293 million, five-year investment plan aimed at renewing the company's industrial equipment and investing massively in quality on all its production sites in France and worldwide (Spain, Germany, United States, Brazil, China).
Following this strong recapitalization, SGD Group, based in Paris, France, intends to reassert its global leadership in a high potential sector.
(TZX)
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