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From: heinz44	8/12/2013 9:40:56 PM
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KKR at its best...............once a thriving concern ATU in the debt trap: money goes only until the end of the year German of economic news \| Published: 10.08.13, 00:19 \| Updated: 10.08.13, 00:21 \| 52 Comments The auto repair shop ATU can not service their debts amounting to 600 million euros. The companies must have 650 branches and more than 12,000 employees. ATU belongs to investors – they have driven the company into the debt fiasco through its policy. Now, good advice could be expensive. Before Topp has to worry but to the consolidation. ATU has over 600 million euro accumulated debt - and rising. "2010 a minus was generated by 56.5 million euros", there were 81.4 million, 2011 motor reported talk. The money earned in the current year only extends to the end of the year. A repayment of the debt is not to think. The US financial investor and majority shareholder KKR had been shot after five years ago additional capital in EUR 140 million at ATU. To meet the need for equity capital, the second major investor demanded Center bridge, further payments of KRR in the triple-digit million euro range, Handelsblatt reported. The curse of debt at ATU comes from the disastrous business model of financial investors--industry is considered one of the most aggressive in the private equity KKR. When KKR took over in 2004 the then thriving ATU, the Americans did what investors always do: imposed most of the purchase price in the amount of €1.45 billion to the company. Thus, financial investors have ever issued from the risk. Apparently, KKR has found no new buyers because of the uncertain economic environment and must contend with a crisis again.

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