EQS-News 105 0 Kommentare The Social Chain AG: Creditors' meeting approves the sale of DS Group

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Creditors' meeting approves sale of DS Group to Ralf Dümmel and existing shareholders.
M&A sales process conducted by Deloitte resulted in best offer from Dümmel and shareholders.
Sale expected to be completed in coming weeks, subject to bank approval and market conditions.

EQS-News: The Social Chain AG / Key word(s): Disposal
The Social Chain AG: Creditors' meeting approves the sale of DS Group

08.11.2023 / 16:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

Berlin, 8 November 2023 – The creditors' meeting of The Social Chain AG today approved the sale of the DS Group to Ralf Dümmel and other existing shareholders.

The sale is the result of an M&A sales process conducted by the auditing firm Deloitte that lasted several months and in which offers from numerous interested parties were examined and evaluated in order to determine the best offer for the company's creditors. This best offer was submitted by Ralf Dümmel and the other existing shareholders of DS Group. In addition to the payment of the purchase price, it also includes the repayment of bank loans, the waiver of claims against The Social Chain AG and the assumption of significant liabilities of DS Group.

The sale is expected to be notarised on 8 November 2023 and should be completed in the coming weeks, subject to the approval of the banks involved and the fulfillment of other standard market conditions.

Statement from the insolvency board member Prof. Dr. Gerrit Hölzle: "After a complex sales process involving around 60 parties, we are delighted that the creditors' meeting has approved this offer, which is economically viable for the creditors. We wish DS Group, its employees and its old and new shareholders a successful future."

Quote from the court-appointed administrator Friedemann Schade: "With today's vote, the creditors' meeting voted unanimously in favour of the sale of DS Group negotiated by the self-administration and the settlement agreed after weeks of negotiations. This confirms that these agreements serve the interests of the creditors, and that the self-administration has thus achieved a very good result for all creditors."

Contact:
Jana Walker
presse@socialchain.de

08.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	The Social Chain AG
	Alte Jakobstraße 85/86
	10179 Berlin
	Germany
Phone:	004915111019365
E-mail:	press@socialchain.de
Internet:	https://www.thesocialchain.ag/
ISIN:	DE000A1YC996
WKN:	A1YC99
Listed:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1768671