Royal Imtech N.V. declared bankrupt by Rotterdam court; Marine and Nordic divisions sold and 7,300 jobs secured; objective to...
August 13 2015 - 10:55AM
Further to its announcement made on 11 August that Royal Imtech
N.V. had been granted suspension of payments ('surseance van
betaling'), Royal Imtech announces that, upon the request of the
administrators, the Rotterdam District Court has declared Royal
Imtech N.V. bankrupt ('failliet') as of today. In addition, Imtech
Capital B.V., Imtech B.V. and Imtech Group B.V. also have been
declared bankrupt as of today. The administrators during the
suspension of payments have been appointed as trustees in
bankruptcy.
Royal Imtech also announces that its Marine and Nordic divisions
have been set outside of the group under the control of Imtech's
financiers with a view to a sale of those divisions or parts
thereof to third parties to ensure as much as possible the
continuation of their businesses and the continued employment of
their 7,300 employees. The company has been informed by the
financiers that it is envisaged that Imtech Marine will be sold to
Pon Holdings and Parcom Capital and that a sales process for the
Nordic division is ongoing and expected to be concluded in the
short term.
As of today, no companies of the
Imtech group other than the companies mentioned above and Imtech
Germany are subject to insolvency proceedings. Royal Imtech has
been assured by the trustees in bankruptcy that they are geared to
preserve as many Imtech group companies as possible in the
interests of all creditors, employees and other stakeholders. Royal
Imtech has been informed by the financiers that a number of parties
have expressed a genuine interest to take over viable parts of the
business.
It is noted that as Imtech's
divisions, including Marine and Nordic have been pledged to
Imtech's financiers, the financiers are entitled to all proceeds of
any sale or other transaction in relation to those companies. It is
not envisaged that Royal Imtech and its shareholders will enjoy
financial benefit from any such current or future transactions.
To facilitate the process set out
above and transactions to further secure as much as possible the
interests of creditors and jobs of as many employees as possible,
it is conceivable that Imtech subsidiaries will be granted
suspension of payments or will be declared bankrupt. The trustees
in bankruptcy will decide whether and when such steps will be
taken.
More information
Media: |
Analysts & investors: |
Dorien Wietsma
Director Corporate Communication & CSR
T: +31 182 54 35 53
E: dorien.wietsma@imtech.com
www.imtech.com |
Jeroen Leenaers
Director Investor Relations
T: +31 182 54 35 04
E: jeroen.leenaers@imtech.com
www.imtech.com |
PDF: Press Release
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Imtech via Globenewswire
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