Edition:
United Kingdom

Gerry Weber Concludes Agreement With Funds Managed By Robus, Whitebox On Restructuring Concept Based On Insolvency Plan


Monday, 15 Jul 2019 

July 15 (Reuters) - Gerry Weber International AG ::DGAP-ADHOC: GERRY WEBER INTERNATIONAL AG: GERRY WEBER INTERNATIONAL AG CONCLUDES AGREEMENT WITH FUNDS MANAGED BY ROBUS AND WHITEBOX ON RESTRUCTURING CONCEPT BASED ON INSOLVENCY PLAN.SIGNING OF INVESTMENT AGREEMENT, BINDING TERM SHEET ON MEASURES FOR INSOLVENCY PLAN APPROVED BY CREDITORS COMMITTEE AND TRUSTEE, LAWYER.ACCORDING TO AGREEMENT, ROBUS AND WHITEBOX WILL PROVIDE UP TO EUR 49.2 MILLION FOR SUSTAINABLE FINANCIAL RESTRUCTURING OF CO.SAYS CURRENTLY ONGOING IMPLEMENTATION OF RESTRUCTURING CONCEPT OF GERRY WEBER WILL CONTINUE WITHIN INTEREST OF CREDITORS OF COMPANY.SAYS CREDITORS ASSEMBLY IS EXPECTED TO TAKE PLACE WITHIN COURSE OF Q3 OF 2019..INSOLVENCY PLAN TO BE PRESENTED TO CREDITORS INCLUDES CAPITAL REDUCTION TO PROSPECTIVELY ZERO EURO AND SUBSEQUENT CASH CAPITAL INCREASE. 

Company Quote

0.0641
0.0242 +60.65%
4:36pm BST