Penta would like to emphasize that it finalized a full-fledged due diligence, is therefore able to close and settle the transaction within a few weeks and is thus less sensitive to A-TEC-related issues.
"We feel this might be an attractive option for the creditors of A-TEC both at the holding and divisional level," says Jakub Korinek, Investment Manager of Penta. "The divisions of A-TEC are suffering from being over-leveraged and, given the upcoming period of economic slow-down, they might encounter serious cash difficulties, should they undergo a full-fledged sales process," concludes Korinek.
Indicative offers are subject to further negotiations. The binding offer depends on a quick update of the due diligence and for the parties to agree on mitigating the most serious legal risks, in particular those related to the so-called Dalian case. Penta also offers within the process to actively investigate the risk and to search for solutions that will mitigate such risk so that the impact on the purchase price will be as low as possible or none in the best case. The separate offer submitted for ATB is in line with the rules set by the Procedure Letter delivered to Penta by Deloitte.