Capvis Steps Back From Entering Manroland
28 November 2011 - 12:56AM
Dow Jones News
Swiss investment company Capvis has stepped back from a
potential takeover of German printing press maker Manroland AG
after differences over how to manage the company emerged during
negotiations, Daniel Flaig, partner at Capvis Equity Partners AG
said in a statement Sunday.
Manroland AG has filed for bankruptcy at a district court in
Germany, the court said Friday. Manroland owners Allianz SE
(ALV.XE) and MAN SE (MAN.XE) had said they were exploring options
for Manroland.
"The different perceptions of those involved, under what
pre-conditions the company may be managed, prompted us, after a
careful review, to give up our plan to enter [the company], what
leaves as disappointed," Flaig said.
The Swiss company wanted to obtain a stake in Manroland and to
carry on with both company units, with a restructuring made
possible via a capital increase, Capvis's press release said.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.