After protracted discussions and negotiations, Rodenstock has finally come to a financial restructuring agreement with its creditors, which was officially announced Tueday, in time for the Opti München fair starting Friday. Bridgepoint Capital will remain the majority shareholder of Rodenstock with a 51 percent share, and the involved banks will acquirer 49 percent within the framework of the refinancing agreement.
The conditions of the restructuring agreement will be adjusted to the existing loans. Beyond that, Rodenstock has been granted a capital loan of €40 million in order to improve its financial flexibility over the next couple of years. The agreement will be implemented soon.
The refinancing package was agreed after the previously reported establishment of a new top management team, led by Oliver Kastalio. The company's latest financial results could not be obtained, but they have been reportedly good. Among other things, Rodenstock recorded a 50 percent increase in turnover last year from its 10-year-old licensed Porsche Design collection.