Sandton Capital to buy ADVEO France, Belgium and the Netherlands
| 27 February, 2019
Funds managed by Sandton Capital have now made a binding offer to take over ADVEO’s subsidiaries in France, Belgium and the Netherlands for €5.5 million.
The Sandton offer does not include the purchase of the shares of the Spanish, Portuguese, Italian and German subsidiaries of the group.
ADVEO, which is under insolvency administration, indicated that the execution of the offer is conditioned, among other reasons, to the application of the initial agreement signed between Sandton and the financing entities of the ADVEO group for the exchange of the financial debt for the real estate assets of the group.
ADVEO also announced that GDN has made a conditional offer for ADVEO Italy of €3 million, subject to due diligence.