GERRY WEBER INTERNATIONAL AG

  • WKN: 330410
  • ISIN: DE0003304101
  • Land: Germany

Nachricht vom 15.07.2019 | 23:48

Gerry Weber International AG: GERRY WEBER International AG concludes agreement with funds managed by Robus and Whitebox on restructuring concept based on insolvency plan

Gerry Weber International AG / Key word(s): Strategic Company Decision/Capital Reorganisation
Gerry Weber International AG: GERRY WEBER International AG concludes agreement with funds managed by Robus and Whitebox on restructuring concept based on insolvency plan

15-Jul-2019 / 23:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad-hoc announcement pursuant to section 17 MAR

GERRY WEBER International AG concludes agreement with funds managed by Robus and Whitebox on restructuring concept based on insolvency plan

Halle/Westphalia, 15 July 2019 Today, in the ongoing insolvency proceedings under self-administration, GERRY WEBER International AG concluded a binding investment agreement on the financial restructuring of the company within the scope of an insolvency plan with funds managed by Robus Capital Management Ltd. and Whitebox Advisors LLP.

The signing of the investment agreement and the binding term sheet on measures for the insolvency plan in the proceedings of GERRY WEBER International AG was approved by the creditors committee and the trustee, lawyer Stefan Meyer.

By implementing the agreement, an insolvency plan will be presented to the creditors of GERRY WEBER International AG as soon as possible for a vote. According to the agreement, Robus and Whitebox will provide up to EUR 49.2 m for the sustainable financial restructuring of GERRY WEBER International AG. The creditors of GERRY WEBER International AG, waiving parts of their receivables, may, in principle, choose between a cash compensation and various financial instruments for value recovery. The currently ongoing implementation of the restructuring concept of GERRY WEBER will continue within the interest of the creditors of the company. The creditors assembly is expected to take place within the course of the third quarter of 2019.

The transaction is subject to customary market conditions, such as the anti-trust clearance of competent authorities as well as the approval of a separate insolvency plan for GERRY WEBER Retail GmbH & Co. KG, an essential subsidiary of GERRY WEBER International AG. Also concerning the insolvency plan of GERRY WEBER Retail GmbH & Co. KG, a binding agreement was concluded today.

A further key element of the insolvency plan for GERRY WEBER International AG, to be presented to the creditors, is a capital reduction to prospectively zero Euro as well as a subsequent cash capital increase. The new shares will be acquired by Robus and Whitebox in a first step. A part of the shares shall be used as part of convertible bonds, which will be provided to those creditors, opting for financial instruments. Due to these measures, the existing shareholders shall leave the company.

The Managing Board

Notifying Person:
Florian Frank
Member of the Managing Board
Phone: +49 5201 185-140
ir@gerryweber.com


15-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

GBC-Fokusbox

Fonds Research 2019: Dt. Mittelstandsanleihen FONDS bietet attraktive Anlagemöglichkeit

Auch 2019 hat die GBC AG unter der Vielzahl an Publikumsfonds neun „Fonds Champions“ herausgefiltert. Darunter den Deutsche Mittelstandsanleihen FONDS (ISIN: LU0974225590), der eine qualitätsorientierte Strategie verfolgt und eine vielversprechende Anlagemöglichkeit in den deutschen Mittelstand bietet. Insbesondere vor dem Hintergrund des aktuellen Niedrigzinsniveaus sehen wir den Fonds als gute Chance, um attraktive Renditen zu erwirtschaften und dies verbunden mit einer traditionell niedrigen Fonds-Volatilität. Wir vergeben 5 von 5 GBC-Falken ein.

News im Fokus

E.ON SE: E.ON vollzieht Erwerb der innogy-Anteile von RWE

18. September 2019, 22:30

Aktuelle Research-Studie

Original-Research: GBC Insider Focus Index (von GBC AG): GBC Insider Focus Index

18. September 2019