Vapiano SE: Consent of the creditors' committee to an irrevocable offer to acquire Vapiano's subsidiaries in France and Luxembourg
Cologne, May 19, 2020 - The creditors' committee of Vapiano SE, which was formed in the course of the preliminary insolvency proceedings, has today given its approval to an irrevocable offer for the acquisition of the Vapiano subsidiaries in France and Luxembourg as part of the ongoing sales process.
The irrevocable offer was made by a consortium of bidders around the former CEO International Franchising, Mr. Mario C. Bauer, and intends the acquisition of 75% shares in Lavenir S.A. from Vapiano SE as well as further receivables and assets related the French and Luxemburg business of the Vapiano group for a total purchase price of EUR 22 million.
Vapiano SE is expected to execute the transaction in June 2020. At the same time, the consortium of bidders will enter into a long-term franchise agreement with Vapiano Franchising International GmbH which will form the basis for a joint market presence in the future.
The transaction still needs the acknowledgment of the bank consortium. A part of the proceeds after the satisfaction of senior secured creditors will be allocated to Vapiano SE and its relevant subsidiaries.
The sales process for the remaining worldwide business of the Vapiano corporate and joint venture participations is expected to be completed by the end of May 2020.
Lutz Scharpe, CFO Vapiano SE
19-May-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de