2009-06-16 Rosenthal AG

Rosenthal: Bank of America agrees to sale

Selb / Germany. The Administrator of Rosenthal, Volker Boehm from Schultze & Braun, has agreed with the main creditor – Bank of America – on the terms of the sale of Rosenthal. The agreement also includes the release of all collateral, including the trademarks. "This clears the way for the sale of the company with all brands to a strategic investor" said Boehm.

Last week, Boehm travelled to New York in order to negotiate the details of the sale. Additionally, Boehm obtained an extension of the deadline until end of July. Though, the purchase price must be paid by then.

Boehm is currently talking with four serious buyers. The negotiations with
all investors are making good progress. The talks are most advanced with Sambonet, since they had started the negotiations earlier. "The purchase agreement is ready to be signed" said Boehm. "Once the funding is organized, we can conclude." However, this is under the condition that Sambonet reaches an agreement with the banks soon. Boehm feels the chances are good, "All parties are moving in the same direc-tion with the same goal", he said.

If an agreement between the banks and Sambonet is not met before the end of July, the Administrator will have to pay off the Bank of America, because it holds the trademark rights as collateral. If this were to happen, Boehm remains by his goal to continue developing the business of Rosenthal until an agreement with one of the other interested parties is reached.

For further information please contact our spokesperson:
Mail: Presse@schubra.de, Phone: +49 (0) 7841/708-0

Schultze & Braun Rechtsanwaltsgesellschaft für Insolvenzverwaltung mbH http://www.schubra.de, Email: mail@schubra.de