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

Gerry Weber International AG

15/07/2019 23:23

July 15 (Reuters) - Gerry Weber International AG  GWIG.DE :
    * 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

Source text for Eikon:  ID:nEQ5m2PJZa 
Further company coverage:  GWIG.DE 

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