August 28, 2019 / 2:34 PM / 20 days ago

Senvion says received no bids for entire business, layoffs from September

BERLIN (Reuters) - Bankrupt German wind turbine manufacturer Senvion said on Wednesday is that has not been successful in finding a buyer for all of its turbine business, and that layoffs are expected to occur from September.

“We are now close to having a solution for significant core parts of the business,” Chief Executive Yves Rannou said in a statement, adding that the company had the means to keep afloat until the M&A process is concluded.

Creditors will be allowed to vote on the investor concepts at a 10 September gathering, Senvion said.

After an original end-June deadline for final bids was dropped, Senvion agreed with lenders to extend loans so it could continue negotiations with potential buyers.

Senvion shares were down 43% at 1423 GMT.

Reporting by Tassilo Hummel, writing by Thomas Escritt; Editing by Arno Schuetze

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below