Reorganised financial structure for tableware specialist

Reorganised financial structure for tableware specialist

The Arc group has announced an agreement with its shareholders and partners, as part of a financing process made necessary by the global health crisis. As part of the agreement, key shareholder since 2015 will provide €20 million in the form of a capital injection, demonstrating again their confidence in the group’s future. 

Separately, the glass tableware specialist will receive €108 million in new loans from the French State, the Région Hauts-de-France and the local community CAPSO, as part of the measures taken by the French public authorities to help businesses affected by the health crisis. 

Finally, the key stakeholders reached an agreement on the current financing settlement and regarding Arc’s Russian production subsidiary, OSZ, which will continue to operate under the terms of a distribution partnership and long-term licensing agreement with Arc Group.

The OSZ plant will continue to produce for its local market, including Luminarc branded products. For its part, Arc Group will continue to export products from France, the Emirates and China to the Russian market, via its distribution subsidiary ADR. 

www.arc-intl.com

Published: 
06/08/2020

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