The shares of the US company 777 partners to Hertha BSC and other football clubs were apparently auctioned on Friday at an auction in New York.
That reports “Picture” and the Belgian newspaper “Destandaard”.
Accordingly, A-Cap, short for Advantage Capital Holdings, took over the entire football portfolio-the shares in Hertha BSC, CFC Genoa, FC Sevilla, Standard Liège, Red Star Paris and Vasco da Gama.
Hertha shares of 777 partners should probably be auction
According to a media report, all shares of the US company should be auctioned 777 partners to football clubs – including those from Hertha BSC – on Friday.more
Hertha BSC is silent about the procedure
According to the reports, the shares in Standard Liège were resolved directly to the SDL holding of CEO Giacomo Angelini after taking over by A-Cap. The Belgian club is no longer part of the former portfolio of 777 partners, Hertha BSC apparently already. The shares – 78.8 percent of Hertha BSC GmbH & Co. KGAA – keeps the reports according to A -Cap.
Hertha BSC so far unanswered inquiries from the RBB and other media before and after the auction and has not yet commented on the procedure.
A-Cap is an American holding company. So the company does not produce its own products, but keeps capital participations in other companies – as now at Hertha BSC. In addition, according to the company, A-CAP is particularly involved in insurance companies and marketing organizations.
Takeover apparently by “credit bid”
The auction on Friday had apparently become necessary because 777 partners had been in financial imbalance for months and have not been the master in their own house for a long time, but were under the control of main believers A-CAP. As a result, two seats on the Hertha BSC supervisory board no longer had 777 partners, but were occupied by A-cap representatives.
At the auction on Friday, A-Cap is said to have given a so-called “Credit Bid”. This is a bid that a creditor emits to an auction in the context of insolvency or forced auction procedure. Instead of offering cash, the creditor uses his own loan to buy the property – in this case the 777 shares.
