Ashurst advises ALNO AG on financial restructuring

Ashurst advised ALNO AG on its financial restructuring process which involved a capital reduction, cash capital increase as well as a waiver of receivables by syndicate banks. The annual general shareholders' meeting of ALNO AG on 21 August shall pass resolutions on the capital reduction and cash capital increase.

The Ashurst team was led by corporate partner Reinhard Eyring and counsel Dr Gerrit Clasen both based in Frankfurt. They were assisted by counsel Martina Rothe, senior associate Sören Kampmann and  associates Kim Laura Frank and Dr Philip Cavaillès. International Finance advice was provided by partners Sebastian Schoon and Dr Tobias Krug  assisted by senior associate Richard Schulze-Muth and associate Michael Schuhmacher. Partner Dr Ingo Scholz, senior associate Till Buschmann and associate Dr Ralf-Thorsten Henn advised on the restructuring aspects.

ALNO AG is one of the leading kitchen manufacturers in Germany. Having c. 7,000 distributors, the company operates in more than 64 countries worldwide. In the financial year 2010 it generated a turnover of €467 million. ALNO AG has 1,845 employees worldwide.