Money for restructuring of Baumax

A banking consortium has guaranteed the Baumax Group’s existing framework of credit for the next three years and fresh funds to the amount of € 80 mio. This means it has given the green light for the planned restructuring of the Austrian market leader. In addition the company’s owners, the Essl family, have made € 12 mio available from their private fortune. Prior to that they had already contributed the sum of € 40 mio to bolster the equity capital and put property to the value of around € 600 mio into the company as well.