Sale of Adveo Italy falls through
| 30 July, 2019
Adveo has announced that the announced sale of its Italian subsidiary has been unsuccesful. The wholesaler has informed the National Securities Market Commission that it will again proceed wuth liquidation proceedings.
In June, Adveo reported that it had accepted a binding offer for its subsidiary in Italy for an amount of €1 to an unnamed Italian entity. However, the new owner agreed to take on the wholesaler's financial debt as part of the deal.
The acquisitio of Adveo France and Adveo Benelux by Sandton Capital Partners acquired closed at the end of June.