Froneri Seeks €4 Billion in Debt Financing to Support Stakeholder Interests
Froneri Ltd., the UK-based ice cream manufacturer known for the Haagen-Dazs brand, is reportedly seeking to raise approximately €4 billion ($4.6 billion) in debt. This financing is intended to support a fund that would allow co-owner PAI Partners to maintain its 50% stake in the joint venture with Nestlé SA, while also enabling a dividend payment.
The company has recently sent out financing proposals to banks, which are now preparing to provide the necessary funds. If successful, this would bring Froneri’s total debt to around €9 billion, based on calculations by Bloomberg.
This move aligns with PAI Partners’ plans to transfer its stake to a new fund. In May of the previous year, Bloomberg News reported that the buyout firm was exploring a continuation fund deal, which could value Froneri at approximately $10 billion. This transaction is part of a broader strategy to restructure ownership while maintaining operational stability.
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