Blackstone agrees to hand Jack Wolfskin to lenders

摘要

Private equity firm Blackstone has reached an agreement in principle to hand over control of German outdoor brand jack wolfskin to a group of its lenders in a debt-for-equity swap. Under the terms of a lender-led debt restructuring plan, lenders will write off €80m, reduce Jack Wolfskin's debt to €210m from €330m, and inject €25m into the business in return for ownership.