Penta, like other parties in the transaction, expected a decision regarding a buyer for A-Tec's assets to be made in the first week of July. Then it was postponed to the end of August. So far no decision has been made not even on a preferred bidder for more in-depth discussions. We do not understand why the process is continuously delayed, in the meantime it is two months behind the communicated schedule. This happens despite the fact that there are offers fully in line with the defined requirements. Penta has already extended the offer twice and will very carefully consider a further extension.
Based on the information received from the media, we are as well concerned about the activity of company Contor Industries GmbH, which – in case the information published in media is correct – is closely tied to one of A-TEC employees being deeply involved in the investor search process and therefore receiving confidential information of other bidders in the process. We would publicly like to ask the relevant stakeholders to provide explanation on this matter. In case the information will prove to be true, we could consider participation of Contor and persons connected to the company as disruption of the defined rules of the bidding process.
Penta Investments has always been transparent and stands behind the bid for all of A-Tec's assets. To our understanding, this should be in the interest of all involved parties.
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