December 1, 2009 - Assignment

Hilding Anders reorganises capital structure

Mannheimer Swartling has advised Hilding Anders in connection with a reorganisation of the group’s capital structure. Pursuant to an agreement reached between owners, management and lenders, Candover remains a majority owner, MezzVest becomes a new minority shareholder, mezzanine lenders convert loans to shares and shareholder loans and senior lenders leave original loan amounts in place. The value of the capital contribution and loan conversions covered by the agreement is approximately SEK 1.6 billion, improves the company’s equity ratio and provides financing for Hilding Anders until 2014.

Hilding Anders is Europe and Asia’s leading bed and mattress manufacturer. The Swedish-based group had a turnover in 2008 amounting to approximately SEK 7 billion and a workforce of around 4,600 employees with a presence in 27 European and 13 Asian markets.

Mannheimer Swartling’s team handling the matter was led by Lars Kongstad, assisted by Jenny Eliasson. Zoran Stambolovski was responsible for finance issues, assisted by Hans Abrahamsson. Martin Nilsson and Anders Erasmie handled tax issues.