APCOA Parking AG has reached an agreement with its lenders that will see the Europe-wide operator restructure about €640m (£511m) of its loans, reducing its debts by almost 70%.
Private equity owner Eurazeo and more than 95% of lenders supported a plan to cut the Stuttgart-based parking company’s borrowings by more than €440m (£352m). Deutsche Bank will provide an additional €90m (£72m) of new loans for business expansion. APCOA’s lenders have now...
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