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