Hengeler Mueller advises A.T.U group on comprehensive financial restructuring

29. January 2014

The German companies of A.T.U Auto-Teile-Unger, the market leader in German car repair services, have undergone a financial restructuring with senior bondholders converting most of the debt into group equity and further providing a fresh money investment in excess of EUR 100 m. The new capital structure provides for a haircut of more than EUR 600 m and a reduction of the interest burden by more than 90%.

Hengeler Mueller comprehensively advised A.T.U group on the structuring of the various transaction alternatives and the debt reduction as well as on negotiations with the creditors and on an M&A process run in parallel to sell the business. The Hengeler Mueller team was led by partner Daniel Kress (Restructuring, London) and included partners Ulrich Blech (Restructuring), Jan Bonhage (Regulatory) (both Berlin), Christian Hoefs (Labour), Johannes Tieves (Capital Markets), Matthias Scheifele (Tax) (all Frankfurt), Alf-Henrik Bischke (Competition, Düsseldorf), Counsel Iris Paetzke (MEP Program, Berlin) as well as associates Heiko Gotsche, Jesko Kamischke, Katja Scharkowski, Malte Wundenberg (all London), Peter Wehner, Eckbert Müller (both Frankfurt) and André Schneider (Berlin).