Brief: Hoist Withdraws From Negotiations With GetBack Re Acquisition Of Assets

Capitea SA

22/01/2019 07:18

Jan 22 (Reuters) - GetBack SA  GBK.WA :
    * SAID ON MONDAY THAT HOIST AB HAS WITHDRAWN FROM FURTHER
NEGOTIATIONS WITH COMPANY REGARDING ACQUISITION OF CO'S ASSETS
    * DECISION OF HOIST AB HAS CLOSED ONE OF THE SO-CALLED
STRATEGIC
OPTIONS AND AS A CONSEQUENCE, CO'S MANAGEMENT BOARD PROCEEDED TO
IMPLEMENT THE SO-CALLED MIXED OPTION
    * UNDER MIXED OPTION CO TO CONTINUE OPERATING ACTIVITIES
WITH
SIMULTANEOUS GRADUAL LIQUIDATION OF ITS ASSETS, TO ACCELERATE
REPAYMENT OF LIABILITIES 
    * IMPLEMENTATION OF THIS OPTION GIVES COMPANY OPPORTUNITY TO
USE
HAIRCUTS AGREED WITH NATIONAL BANKS  urn:newsml:reuters.com:*:nFWN1ZL0AG
    * THIS OPTION ASSUMES REPAYMENT OF COMPANY'S LIABILITIES TO
CREDITORS AT LEVEL OF 25% WITHIN 8 YEARS
    * FIRST INSTALMENT FOR UNSECURED CREDITORS WILL BE PAID OUT
IN
2020
    * COMPANY WILL REPAY SECURED CREDITORS FIRST

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM4vfkk3a
    
 Further company coverage:  GBK.WA  
   


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