The PrimaCom Group has said it has successfully completed the first phase of restructuring of the company to secure its long-term future.
On Monday July 5th, the shareholders’ rights to the Primacom Management GmbH were transferred to Luxembourg based Medfort S.àr.l. for an undisclosed sum. This company is a financial holding owned by private investors and independent of the creditors and the former majority shareholders. With this step, the first phase of the restructuring is over. The team led by Sebastian Freitag has managed to complete the demanding task early than expected, according to a press release.
Michael Dorn, speaking on behalf of the PrimaCom Group, said in a statement: “The rapid achievement for our company is of great importance and a success for all stakeholders. This ecures not only the survival of the PrimaCom group for the long term. More importantly, we have sufficient investment resources available for the further expansion of our networks, to develop new products and for a successful growth market.”
Dr. Hans Peter Leube, MD, concluded: “This is for the PrimaCom group this is an excellent development – Michael Dorn and I thank our many employees, that have contributed behind the scenes. We are confident that we will now complete the implementation of the second step of the restructuring expeditiously with all stakeholders.
