Brief: United Labels AG Says Spanish Subsidiary United Labels Iberica S.A. Will Soon Apply For Insolvency

United Labels AG

21/10/2019 21:18

Oct 21 (Reuters) - United Labels AG  ULCG.DE :
    * DUE TO STATUTORY OBLIGATIONS, SPANISH SUBSIDIARY UNITED
LABELS
IBERICA S.A. WILL SOON APPLY FOR INSOLVENCY
    * DECISION ALSO AFFECTS INDIRECTLY ITALIAN SUBSIDIARY OF
UNITED
LABELS IBERICA S.A. WHICH HAS BEEN INACTIVE FOR A WHILE
    * THERE ARE NO INTER-COMPANY AGREEMENTS WHICH OBLIGE 
COMPANY TO
COMPENSATE ANY LOSSES OF SPANISH SUBSIDIARY
    * EVENT WILL HAVE A NEGATIVE IMPACT ON ANNUAL FORECAST,
EXTEND OF
WHICH IS CURRENTLY UNDER REVIEW

Source text for Eikon:  ID:nPexJKzfHa 
Further company coverage:  ULCG.DE 

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