Italian Coffee Machine Maker Nears Debt Deal
The firm has suffered from a rise in raw material costs following the war in Ukraine.
Photographer: Frederic J. Brown/AFP/Getty ImagesThis article is for subscribers only.
Italian coffee machine maker Caffitaly System SpA is nearing a debt restructuring agreement, involving new money from shareholders and a haircut on its bank debt.
The company is ironing out the final details of the deal, which should see nearly €40 million ($42 million) of fresh cash from its owners — private equity fund Alpha Group and investment holding company Compagnie Nationale a Portefeuille, according to people with knowledge of the matter.