DGAP-Ad-hoc: Schaltbau Holding AG / Key word(s): Investment
Munich (Germany), 8 April 2019. After Schaltbau Holding AG (WKN: A2NBTL2; ISIN: DE000A2NBTL2) ("Schaltbau") had put its Spanish subsidiary Albatros S.L.U. ("Sepsa") up for sale already in November 2017, there is now an offer from a strategic investor with industry proximity for the acquisition of Sepsa's key assets. Since the current financial situation of Sepsa requires the initiation of liquidation proceedings, Sepsa's management will file a corresponding application within short time. The investor then plans to acquire the relevant assets from the liquidation mass. The support of the transaction by Sepsa's employees is a condition for the acquisition. Furthermore, the liquidation court must approve such acquisition. Schaltbau assumes that the employees will support the transaction and the court approval will be granted. Sepsa's business operations are to be continued during the liquidation proceedings and following the acquisition of the assets by the investor.
Schaltbau has issued various intra-group guarantees and bank guarantees for the benefit of customers, banks and suppliers of Sepsa amounting to a maximum of approximately EUR 8 million. As the agreement with the investor enables the continuation of Sepsa's operative business, Schaltbau does not assume that these guarantees will be utilised in full. It is not yet possible to make a precise estimate of the extent of the drawdowns.
08-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Schaltbau Holding AG|
|Phone:||+49 89 - 93005 - 209|
|Fax:||+49 89 - 93005 - 398|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange|
|EQS News ID:||796989|
|End of Announcement||DGAP News Service|
796989 08-Apr-2019 CET/CEST