The Horsens-based offshore shipping company Ziton has been searching for a solution in recent months that could stabilize the company's finances, which have been under pressure. That solution has now been found, and it has now led to the company getting new owners, the company announced in a statement.
The new owner will be the Luxembourg financial institution Permira Credit Solutions, headquartered in Luxembourg. The transaction was made by converting debt into equity.
- We believe that this is a solid and good solution, which shows that our lenders also see a strong future for the O&M market and have confidence in Ziton's performance and our ability to maintain and expand our position in the market, says Thorsten Jalk, CEO of Ziton.
The agreement improves the shipping company's equity by 37 million euros and liquidity by 13.2 million euros. In addition to converting the debt into equity, Ziton has also had its corporate loan extended by 24 months with the agreement.
amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
