Another part of the extensive portfolio of the insolvent group Signa Holding GmbH may be sold. On Tuesday, the insolvency administrator Christof Stapf announced that an agreement on the planned sale of a participation in the Austrian Kronen Zeitung was indirectly held by Signa Holding. The sale is “in the course of the orderly recovery of the company values of Signa Holding GmbH in favor of the creditors,” said Stapf.
Already on June 16, the German media group Funke announced that they wanted to sell the proportions in question to Christoph and Michael Dichnd, who are already major shareholders of the Kronen Zeitung. The bankruptcy violal “had now agreed to this intention after agreement on the sales proceeds in close coordination with the creditor committee and after the consent of the bankruptcy court,” says a message.
The shares that make up 50 percent of the total capital of the Krone publishing company are currently still held by NKZ Austria-Beitungs GmbH, a 100 % subsidiary of WAZ abroad Holding GmbH. The Funke Group is involved in this with 50.5 percent and Signa with the remaining 49.5 percent. Due to this minority stake, the insolvency administrator of Signa had to agree to the planned sale.
The conclusion of the now approved transaction is also subject to “the reservation of antitrust approval and other market -related completion conditions,” said Stapf. “The contracting parties agreed to confidentiality” about the purchase price and further details.