International sale process for Loewe successfully initiated and fully supported by all stakeholders

PwC mandated as M&A advisor

(PresseBox) ( Kronach, )
On 1st of July 2019, the insolvency proceedings over the estate of Loewe Technologies GmbH (“Loewe”) were opened. The insolvency administrator Rüdiger Weiß from the law firm WallnerWeiß immediately initiated a structured international sale process to sell all assets and operations of Loewe. The assets also include the renowned Loewe brand that was pledged to a major lender.

In the last days, very fruitful discussions between the insolvency administrator, the creditors’ committee, the Loewe management and major lenders took place. All stakeholders are convinced that a close cooperation increases the chances to find a new investor for Loewe. PwC has been mandated as exclusive M&A advisor to conduct the international sale process. The M&A team is led by PwC’s M&A experts Timo Klees (Partner) and Fabian Dalka (Senior Manager).

The insolvency administrator is optimistic to find a new investor for selected or all assets of Loewe that can further leverage the iconic premium brand in the TV and entertainment business. In the course of the planned transaction, the investor will not assume any existing liabilities.

More than ten parties already indicated their interest and site visits have already commenced last week. Additionally, PwC will conduct a broader international market approach in the forthcoming days. The transaction is planned to be consummated as quickly as possible.

“We are happy that all stakeholders are closely working together to find an investor solution for Loewe. Investors have the unique opportunity to further streamline the Loewe business in the course of the transaction. At the same time, they can benefit from the company’s excellent market position and Loewe’s worldwide renowned premium brand”, Dr. Vogt, CEO of Loewe, stated.
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