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Packaging maker Schur Flexibles has been taken over by a consortium of banks and funds including Apollo, Capital Four, Guggenheim and Palmer Square. The restructuring includes a debt haircut of up to 75 percent, about EUR 400 million, and EUR 150 million of fresh capital.
Lindsay Goldberg agreed to sell an 80% stake in Austria-based Schur Flexibles Group to B&C Group, retaining 20% ownership, subject to antitrust approvals.