Loyens & Loeff proudly assisted Balta Group (XBRU: BALTA), the largest producer of textile floor coverings in Europe, with the completion of the sale of its Rugs, Residential PP and Non-Woven businesses, together with the Balta brand to Victoria PLC (LSE: VCP), a United Kingdom-based leading designer, manufacturer and distributor of flooring products.

The Transaction will allow the remaining group to focus on developing its commercial businesses in Europe and the United States under the main brands modulyss and Bentley Mills respectively, as well as its premium European Residential polyamide (Residential PA) business (ITC).

With completion of the transaction, Balta Group NV has also settled the tender offer for its senior secured notes and refinanced other debt facilities. Post completion, the group has outstanding senior secured notes of EUR 132m, a sale and lease back facility of EUR 20m and an undrawn RCF facility of EUR 45m.

The team was led by Partner Robrecht Coppens, Senior Associate Mathias Hendrickx and Associates Sofie Van Paesschen and Céline De Vuyst with the invaluable support of our Belgian colleagues Marc Vermylen, Filip Saelens, Kris De Schutter, Ariane Brohez, Thomas Lenné, Stéphanie De Smedt, Julien Lecler, Florian Rigolle, Pieter Verheyen, Ruben Baeb, Arne Weemaes, Eline De Ryck, Wannes Buelens, Dorien Surinx, Eugénie Mennig, Livia van Severen, Emma De Clercq, Els Bruls, Johan Lagae, Bernard Claessens and Emma Vanden Brande, our Dutch colleagues Marc Wiggers, Marc Custers, Robert Fröger, Marco De Vries, Gaby Lalchand, Nina Orlic and Marinus Prakke, and our Luxembourg colleagues Michael Scott, Noémi Gémesi, Willem Bon, Anne-Marie Nicolas, Madeleine Marques, Laura Jimenez Lloret, Ignacio Jimenez Guardiola, Eriona Prenci, Enxhi Basho and Olga Siohan, and our Swiss colleague Judith Raijmakers.

Our team was involved in all legal aspects of this complex transaction and led the negotiations for Balta Group.