Kartesia and Bayside Capital buy out Desmet Ballestra in debt-to-equity swap

In Belgium, Kartesia and Bayside Capital have bought out majority ownership of Desmet Ballestra from Equistone Partners by buying out the company’s staggering debt beginning as far back as 2012. By mid-2015, the two companies had owned 60% of Desmet Ballestra’s debt that would later be swapped for equity to bring the company into a healthy financial standing. A total of 30 lenders were brought down to two, and those two have since committed to a four-year bonding line while Kartesia and Bayside Capital along with 10 other investors own the company.

Category: Fuels