LEONI AG : New refinancing concept may lead to a delisting of Leoni AG and implies an equity value of € 0
>An unpleasant update on refinancing negotiations - Leoni announced that it is in advanced negotiations with its financing parties (syndicate banks) and Mr. Stefan Pierer as strategic investor on a financial restructuring concept and expects to reach an agreement shortly. The restructuring concept will substantially reduce the company's debt and provide fresh liquidity, but as a final consequence also result in a delisting of Leoni AG. In the view of Leoni’s executive...Leoni AG acts as the holding company, engaged in providing wires, optical fibers, cables and cable systems as well as related services for applications in the automotive sector and other industries. Co.'s business comprised of two divisions: Wire & Cable Solutions (WCS), which develops, produces and assembles wires and strands, optical fibers, standard and special cables, hybrid and optical cables as well as complete cable systems for a variety of industrial applications; Wiring Systems Division (WSD), which develops, produces and sells cable harnesses, complete wiring systems as well as related components for the global car, commercial vehicle and supply industry.
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