DGAP-News: Mutares AG: Insolvent Escada AG will not close Primera-transaction

Mutares AG / Mergers & Acquisitions/Mergers & Acquisitions

30.10.2009 

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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The board and the preliminary insolvency administrator of Escada AG, Dr.
Christian Gerloff, will not proceed with the closing of the purchase
agreement for the Primera group. The board decided to withdraw from the
contract it had originally signed with mutares AG on May 25, 2009.

Together with the teams in Munich and Münster mutares had already made
significant progress in the turn-around of the Primera group, particularly
in the working capital management and the reduction of general costs.
Backed by several guarantees mutares contractually committed itself to
continue the business of the Primera group in its current form.
Additionally, mutares had an approved financing line of EUR 7.5 mill.
available for the Primera group.

mutares AG, Munich (www.mutares.de), acquires midsized companies in whole
and in part, which are sold as a result of a repositioning process at their
owners and which exhibit a clear operational improvement potential. Getting
engaged with their own teams, mutares actively supports their portfolio
companies to generate a significant value increase. The focus of the
operational work is to ensure sustainable, long-term growth.
The stocks of mutares AG are listed at the Open Market segment of the
Frankfurt stock exchange (symbol: MUX, ISIN: DE000A0SMSH2).


mutares AG
Susanne Staudt
Investor Relations & Corporate Communications
Tel:  +49 (0)89 9292776-0
Fax: +49 (0)89 9292776-22
info@mutares.de




30.10.2009  |[![CDATA[|[a href="http://www.dgap.de"|]Financial News transmitted by DGAP|[/a|]]]|]

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