Kirkland & Ellis is advising the Arc group, the world leader in tableware, on the tax aspects of its financial reorganization, a process made necessary by the ongoing health crisis. The agreement has several components, including:
- a €20 million capital injection from a key shareholder;
- €108 million in new loans from the French State the Région Hautsde-France and the local community CAPSO;
- an agreement on the settlement of the current financings and Arc’s Russian production subsidiary, OSZ.
The agreement is a significant step for the Arc group and all its employees as the long-term sustainability of the business is now significantly enhanced.
The Kirkland team was led by Paris tax partner Nadine Gelli and associate Sonia Bouaffassa.