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credit: Douglas, Adobe Stock
credit: Douglas, Adobe Stock

Douglas To Reduce Debt By Returning To The Stock Market

The perfumery chain Douglas wants to return to the stock market and use the proceeds primarily to reduce its mountain of debt.

The company is aiming for equity inflows of 1.1 billion euros, as announced in Düsseldorf on Monday. On the one hand, the money is to come from a capital increase as part of the IPO. On the other hand, the previous owners, the financial investor CVC and the Kreke family, want to contribute around 300 million euros.

According to the company, the proceeds will be used to further reduce the debt on the balance sheet. Douglas intends to refinance the remaining debt at better conditions. Depending on the market environment, trading could commence in the first quarter.

Douglas was delisted from the stock exchange in 2013 after a joint takeover by financial investor Advent and the Kreke family. In 2015, the majority went to CVC for almost three billion euros.


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