Sep 04, 2012. Gascogne Group has finalised the sale of Gascogne Laminates Switzerland assets to UPM Raflatac. This disposal is in line with the Gascogne Group corporate strategy defined in September 2011, aiming at refocusing on its core businesses and deleveraging its financial structure.
Gascogne finalises the sale of its site Gascogne Laminates Switzerland to UPM Raflatac
Sep 04, 2012. /Lesprom Network/. Gascogne Group has finalised the sale of Gascogne Laminates Switzerland assets to UPM Raflatac, as the company said in a press release received by Lesprom Network.
This disposal is in line with the Gascogne Group corporate strategy defined in September 2011, aiming at refocusing on its core businesses and deleveraging its financial structure.
Pursuant to the conciliation agreement signed with its banking partners and its shareholder EEM, as approved by the Commercial Court in Dax on 18 July 2012, the income from selling Gascogne Laminates Switzerland assets shall go towards reducing the Group’s bank debts.
As part of this transaction, a liability guarantee, standard procedure in such cases, was provided by Gascogne Laminates Switzerland, counter guaranteed by its parent company, Gascogne SA.
