The head of the German financial supervisory authority BaFin, Jochen Sanio, is reported to have warned of the threat to the country’s banks posed by leveraged buyouts. Sanio mentioned that companies targeted in private equity deals run the risk of collapsing at the next economic downturn because of risky financing. Although he acknowledged that measures have been taken to avoid problems, he also pointed out that deal structures have not yet had to stand the test of tough times.
Investindustrial sells its remaining stake of 4.12% in the company, fully exiting the investment
Following the deal, CCV Schweiz will be integrated with Concardis Schweiz, which is part of Nets Group
Minority shareholder IMS Capital has also filed for insolvency; Getnow is now seeking new investors
Exit from Rutland Fund III realises a return of 5.7x on the original cost of the investment