Buyout shop Penta Investments will submit an offer to buy troubled Austrian engineering group A-TEC, Reuters reported Wednesday, citing a report in the newspaper Wirtschaftsblatt. A-TEC needs to find a buyer by June 30 under a deal with creditors struck in December, Reuters wrote. Terms of the offer were not disclosed.
(Reuters) – Private equity firm Penta Investments will submit an offer to buy all of troubled Austrian engineering group A-TEC (ATEC.VI), newspaper Wirtschaftsblatt quoted a Penta spokesman as saying.
“Penta will bid for the (whole of) … A-TEC. The group would be an investment that fits us perfectly,” the paper quoted Martin Danko as saying in a report published on Wednesday.
A-TEC needs to find a buyer by June 30 under a deal with creditors struck in December. (Reporting by Michael Shields; Editing by David Holmes)