Brief: Adhoc Gerry Weber International AG Gerry Weber International AG Arranges Bridge Loan

Gerry Weber International AG

07/02/2019 22:59

Feb 7 (Reuters) - Gerry Weber International AG  GWIG.DE :
    * DGAP-ADHOC: GERRY WEBER INTERNATIONAL AG: GERRY WEBER
INTERNATIONAL AG ARRANGES BRIDGE LOAN AND GRANTS PURCHASE OPTION
FOR HALLHUBER GMBH
    * SAYS GERRY WEBER INTERNATIONAL AG ARRANGED A BRIDGE LOAN
OF EUR
10 MILLION FOR SUBSIDIARY HALLHUBER GMBH WITH AN INVESTOR
    * WITH PROCEEDS FROM BRIDGING LOAN, ONGOING BUSINESS
OPERATIONS OF
HALLHUBER ARE SAFEGUARDED FOR TIME BEING
    * SAYS AT SAME TIME, A PURCHASE OPTION FOR HALLHUBER GMBH
WAS
GRANTED
    * INVESTOR ACQUIRES RECEIVABLES OF GERRY WEBER GROUP
COMPANIES
AGAINST HALLHUBER, LARGELY ALREADY SUBORDINATED, AT PURCHASE
PRICE OF ABOUT EUR 1 MILLION
    * IN CASE OF EXECUTION, GERRY WEBER EITHER RETAINS A 14 %
STAKE IN
HALLHUBER OR, ALTERNATIVELY RETAINS A 12% STAKE PLUS PURCHASE
PRICE OF EUR 500,000

Source text for Eikon:  urn:newsml:reuters.com:*:nEQ1lX4Ha
Further company coverage:  GWIG.DE 

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