Beate Uhse attracts interest from Orion (translated)
12 JAN 2018
Beate Uhse, the German erotic products company, has attracted takeover interest from rival Orion, Frankfurter Allgemeine Zeitung reported.
The German-language daily cited a spokesperson for Orion as saying that the company has made no official decision, however, is examining a possible participation in the bidding. According to the spokesperson, Uhse is probably the best-known brand in its field. Orion, a former Uhse subsidiary was separated from the company in the 80s, the report noted.
The report cited unidentified sources as saying that the management of Beate Uhse, which entered insolvency four weeks ago, has been in contact with possible buyers together with its official administrator and experts from the advisory firm One Square Advisors.
In the coming weeks, indicative offers are expected, with binding offers for parts or all of the company anticipated by the end of February, according to the report. An unidentified involved person was cited as saying there is strong interest, with a range of investors hoping to take a close look at the business.
The report noted that Uhse's management, led by Chief Executive Michael Specht, this week announced the granting of a mass credit from financial investor Robus Capital in the value of EUR 2.7m.