Loewe receives six non-binding offers, binding offers expected soon
Loewe, the listed German TV set maker, has received six non-binding offers, Frankfurter Allgemeine Zeitung reported. The German daily cited Loewe's insolvency administrator Alfred Hagebusch who said that six non-binding offers have come in and that he expects the binding offers to be submitted in the next few weeks. The due diligence is underway, he stated. Hagebusch is in talks with financial investors, wealthy individuals and a strategic investor, the report stated.
Hagebusch said breaking up Loewe is not an alternative option due to the level of interest in the company.
Source Frankfurter Allgemeine Zeitung