Steilmann SE
Steilmann SE: Steilmann SE Successfully Disposes First Assets
DGAP-Media / 2016-05-23 / 13:05 Steilmann SE Successfully Disposes First Assets * Administrator Dr Frank Kebekus sells the subsidiary Nienhaus and Lotz (N&L) Global Player Business GmbH * Further negotiations with potential investors in advanced stages Bergkamen, 23 May 2016 - The sale of the first subsidiary of the Steilmann SE has been finalised against the wider context of finalising new investor structures for the Steilmann fashion group. The Administrator, Dr Frank Kebekus has sold the Nienhaus and Lotz Global Player Business GmbH, Gelsenkirchen to HKG Garment Solution GmbH, Hünxe, through an asset deal. Involved parties have agreed that the conditions of the transaction will not be disclosed. N&L Global Player Business GmbH has been a part of the Steilmann Group since 2004. The company focuses on supplying large discount retailers with female, male and children's fashion/sportswear. HKG Garment Solutions has taken over the business and the 20 employees of N&L Global Player Business GmbH. Nienhaus &Lotz Global Player Business GmbH, alongside other group subsidiaries filed for insolvency on 6. April 2016, in the aftermath of the insolvency filing of the parent company Steilmann SE at the end of March 2016. Several parallel investor processes for the various subsidiaries of the Steilmann Group are currently underway, many in advanced stages. "Following the successful start with Nienhaus and Lotz Global Player Business GmbH, I remain optimistic that further positive solutions for the future of the group will be imminently finalised" said Dr Frank Kebekus the preliminary administrator for both Steilmann SE and its parent the Steilmann Holding GmbH. "we are conducting promising negotiations for both Steilmann fashion and discount arms. Current investor interest surpasses my initial expectations" End of Media Release --------------------------------------------------------------------------- Issuer: Steilmann SE Key word(s): Trades 2016-05-23 Dissemination of a Press Release, 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 www.dgap.de --------------------------------------------------------------------------- Language: English Company: Steilmann SE Industriestraße 42 59192 Bergkamen Germany Phone: +49 (0)23 89 783-0 Fax: +49 (0)23 89 783-112 E-mail: info@steilmann-se.com Internet: www.steilmann-se.com ISIN: DE000A14KR50, DE000A1PGWZ2, DE000A14J4G3, DE000A12UAE0 WKN: A14KR5, A1PGWZ, A14J4G, A12UAE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP Media
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