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cromology

Kartesia supports the restructuring of Cromology

Kartesia is pleased to announce the signature of an amendment agreement between the Lenders of Cromology (one of Europe’s leader in the design, manufacturing and distribution of indoor and outdoor decorative paints), including Kartesia, with the majority shareholder of the Company, listed French Private Equity firm Wendel. The agreement includes a significant 125 m€ Equity injection by the shareholder, partly used to repay debt, with the remaining injected amount being destined to implement the Management team’s transformation plan and finance the Company’s investments. After on-boarding a new management team over the second semester of 2018, the Company is now significantly delevered and is well-positioned to pursue its ambitious commercial plan, supported by its leading position across Europe in decorative paints.

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