Brief: Componenta's Swedish Subsidiary Files For Bankruptcy

Componenta Oyj

25/09/2019 09:28

Sept 25 (Reuters) - Componenta Corp  CTH1V.HE :
    * COMPONENTA'S SWEDISH SUBSIDIARY FILES FOR BANKRUPTCY
    * SWEDEN-BASED COMPONENTA FRÄMMESTAD AB HAS FILED AN
APPLICATION
FOR BANKRUPTCY WITH LOCAL DISTRICT COURT TODAY, 25 SEPTEMBER
2019
    * ORATION AND COMPONENTA FINLAND OY HAVE NO GUARANTEES OR
OTHER
SECURITIES GIVEN ON BEHALF OF COMPONENTA FRÄMMESTAD AB'S
LIABILITIES
    * FOLLOWING BANKRUPTCY OF SWEDISH SUBSIDIARY, GROUP'S
RESTRUCTURING DEBTS ARE REDUCED BY EUR 2.5 MILLION TO EUR 12.7
MILLION
    * BANKRUPTCY OF COMPONENTA FRÄMMESTAD AB WILL NOT JEOPARDIZE
EQUITY OF COMPONENTA CORPORATION, COMPONENTA FINLAND OY OR
COMPONENTA GROUP
    * CAPITAL LOAN OF EUR 27 MILLION SHOWN IN OTHER RESERVES IN
COMPONENTA FRÄMMESTAD AB'S BALANCE SHEET WILL BE REMOVED FROM
COMPONENTA GROUP'S BALANCE SHEET FOLLOWING BANKRUPTCY
    * COMPONENTA FRÄMMESTAD AB WILL BE PRESENTED UNDER
DISCONTINUED
OPERATIONS IN CONSOLIDATED FINANCIAL STATEMENTS
    * BANKRUPTCY WILL NOT JEOPARDIZE ABILITY OF COMPONENTA GROUP
TO
CONTINUE AS A GOING CONCERN

Source text for Eikon:  ID:nWkr4bHkxL 
Further company coverage:  CTH1V.HE 

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