- Crucial restructuring milestone
- Specific, written offer
- Broad acceptance for the strategic realignment
Kronach, Germany, 11-11-2013 — /EuropaWire/ — The restructuring of the company Loewe will soon reach its successful conclusion: an initial investor has expressed interest in buying Loewe, and has made a specific written offer to buy the business operations. The bidder has agreed to provide the strategic realignment concept with long-term support. “The fact that an investor has committed itself to buying Loewe underscores the attractiveness of the premium Loewe brand and the company as a whole,” stressed Loewe Executive Board Chairman Matthias Harsch. “This means we have reached a crucial milestone that will put Loewe firmly back on track for success.”
The process of assessing the offer has already begun. It is also possible that further potential investors may present specific offers. The next stage will see the Executive Board entering into negotiations with the interested parties to finalise the details of the purchase agreement. “It is now up to us to select the best financial partner for Loewe,” said Chief Financial Officer Rolf Rickmeyer.
The entry of an investor is the latest building block in the strategic realignment of Loewe. In respect of the operating business, the company made some key directional decisions in July when it entered into a far-reaching strategic partnership with the Chinese company Hisense. The first concrete projects have already been launched, such as for example the development of a joint electronics platform for the markets in Europe. “In conjunction with the new financial investor, the cooperation with Hisense constitutes a crucial building block in the process that will see the company transformed from a TV equipment manufacturer into the leading premium provider of smart home entertainment solutions,” declared Matthias Harsch.
Press Contact:
Christoph Möller
phone: +49 (0) 221 80 10 87-87
e-mail: cm@moeller-pr.de
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