Thesan Capital to acquire Aurgi

According to reports, Thesan Capital is poised to acquire auto repair shop Aurgi from AC Desarrollo for a cash consideration of EUR4.7m plus the stocks held in the 26 of the 29 stores they intend on purchasing, which could amount to an additional EUR2.5-3m.

Thesan's offer stood against a EUR10m offer, to be paid in deferred payments, made by a consortium led by Prelude Trading and including some of Aurgi's former management and its competitor TopFit. Aurgi filed for voluntary insolvency a year ago, with a EUR40m debt. Banco Popular and Caja de Ahorros del Mediterraneo (CAM) are the two main creditors with EUR6.6m.

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