OBERKOCHEN, Germany—Carl Zeiss AG announced it has obtained approval from creditors for a proposal to restructure the corporate financing of Carl Zeiss Vision, the eyeglass lens business it jointly owns with the private equity firm EQT. In a statement issued today, Carl Zeiss AG said that for the agreement to become effective, a majority of at least two-thirds of the lending banks with voting rights was necessary.

“We are pleased at the very positive reaction of the banks to this offer,” said Dr. Dieter Kurz, president and CEO of Carl Zeiss AG. “This means that we now have a good starting situation for the future of Carl Zeiss Vision.” As part of the new corporate financing, Carl Zeiss AG will become a majority shareholder in Carl Zeiss Vision. The agreement provides for an injection of equity totaling a sum in three-digit millions of euros by Carl Zeiss AG. This includes the purchase of current loans by Carl Zeiss AG and their conversion into equity. Read Full Story at Vision Monday