KKR Discussing Takeover of Bain’s Troubled Elevator Firm (1)

KKR & Co. and other creditors to Wittur International Holding GmBH are discussing a restructuring that may see KKR take control of the German elevator parts company.

Under the plan, KKR would inject €75 million ($81.5 million) and write off about €240 million of junior debt in exchange for a majority stake in the company, according to a person familiar with the matter. Shareholders Bain Capital LP and Public Sector Pension Investment Board would most of their equity diluted, the person said.

KKR and a group of holders of Wittur’s €565 million outstanding term loans are currently locked ...