GRYIF Gerry Weber International AG K Ord Shs

DGAP-News: Gerry Weber International AG: Investor exercises purchasing option for HALLHUBER

DGAP-News: Gerry Weber International AG / Key word(s): Investment/Disposal
Gerry Weber International AG: Investor exercises purchasing option for HALLHUBER

08.07.2019 / 10:00
The issuer is solely responsible for the content of this announcement.

CORPORATE NEWS

Investor exercises purchasing option for HALLHUBER

- Fund managed by Robus Capital Management takes over majority share

- GERRY WEBER retains a stake of 12% in HALLHUBER

 

(Halle/Westphalia, 8 July 2019) A fund managed by Robus Capital Management took over the majority share of HALLHUBER GmbH from GERRY WEBER International AG. Within the scope of the ongoing restructuring under self-administration, GERRY WEBER granted a purchase option to the investor in February. In exchange, the investor had provided a bridging loan for HALLHUBER, which has since been replaced by long-term financing. According to the agreement, GERRY WEBER retains a stake of 12% in HALLHUBER. Furthermore, GERRY WEBER receives a cash payment of EUR 500.000 from the investor.

Background
Since 25 January 2019, GERRY WEBER International AG undergoes insolvency proceedings under self-administration. Proceedings were opened on 1 April 2019. At the subsidiary GERRY WEBER Retail GmbH & Co. KG, insolvency proceedings under self-administration were opened on 1 May 2019. In both cases, the respective court appointed lawyer Stefan Meyer of PLUTA Rechtsanwalts GmbH as trustee. The Managing Board of GERRY WEBER International AG, consisting of Johannes Ehling (Spokesman of the Supervisory Board as well as Chief Sales Officer and Chief Digital Officer), Florian Frank (Chief Restructuring Officer) and Urun Gursu (Chief Product Officer) are supported by Chief Representative Dr. Christian Gerloff, a lawyer well-versed in the fashion industry. Regardless of the ongoing insolvency proceedings, financing of the ongoing operations of GERRY WEBER is secured well into the year 2020.

GERRY WEBER Group
GERRY WEBER International AG, headquartered in Halle/Westphalia, is a worldwide operating group, uniting three strong brand families under one roof: GERRY WEBER, TAIFUN and SAMOON. Furthermore, GERRY WEBER holds a non-strategic stake of 12% in HALLHUBER GmbH.


Contact GERRY WEBER:
Lucia Mathée / Gundolf Moritz
MATHEE GmbH / Mirnock Consulting GmbH
Phone: 0‬
Email:

Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: 0
Email:


08.07.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at

Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail:
Internet: -ag.de
ISIN: DE0003304101
WKN: 330410
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; SIX, Vienna Stock Exchange
EQS News ID: 837529

 
End of News DGAP News Service

837529  08.07.2019 

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08/07/2019

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