Neu-Isenburg | December 10, 2019
euromicron AG applies for protective shield proceedings under self-administration
The Executive Board of euromicron AG decided this evening after a comprehensive review of all existing options, to apply for initiation of protective shield proceedings with the competent Local Court of Offenbach am Main tomorrow.
The provisional self-administration procedure exclusively applies to the holding euromicron AG. All domestic and foreign subsidiaries are excluded from the proceedings and at the current stage will continue business operations.
After talks concerning a bridging loan or other measures to support liquidity for stabilization of Group financing have failed, the positive continuation prognosis has been dropped and the company is overindebted.
Meanwhile talks with a strategic investor for acquisition of the operating subsidiaries have begun. Today the investor has presented an acquisiton concept and seeks an utilization agreement with the financing banks and lenders.
The Executive Board
Communicating person:
Ariane Manthey
Investor Relations Manager
Phone: +49 69 631583-293
ariane.manthey [at] euromicron.de