KKR strikes deal to restructure German car repair chain ATU

Newswire

FRANKFURT, Dec 5 (Reuters) - Private equity group KKR has struck a deal to restructure the debt of loss-making car repair chain Auto-Teile Unger (ATU), ATU said on Thursday. KKR and ATU's management have agreed on the main points of a debt-for-equity swap with the repair firm's main creditors, credit investment groups Centerbridge and Babson Capital as well as funds managed by Goldman Sachs, ATU added. Under the deal, ATU, a household name in Germany that ...

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