date:Jun 28, 2013
US private equity firm Oaktree Capital Management has acquired Spain-based bakery firm Panrico for an undisclosed amount.
Panrico had entered into an agreement with investors to off-load its existing debt. This move by Panrico comes for the second time in the past two years to reduce debt and have a debt-free balance sheet loans with third parties.
Under the agreement, Oaktree capitalized the Panrico's loans during 2012 and increased its stake from 86% to 100% in the company.
Panrico restruct