The trustees appointed following the collapse of Royal Imtech N.V. have announced that the two divisions Imtech Marine and Imtech Nordic were sold immediately after the bankruptcy had been declared.
To this end the financiers have established a new limited liability entity. Imtech Nordic will for now remain in the newly established entity and Imtech Marine will be transferred to the new owners Pon Holdings and Parcom Capital.
The sale gives the two divisions immediate access to working capital guaranteeing the continuity of the operations. The transactions will secure the employment of 7,300 Imtech employees of which around 1,300 employees are in the Netherlands. The trustees are aiming to reach the same continuity for the other divisions that are not subject to creditor protection.
Trustees are currently in discussions with potential buyers for the divisions and/or parts of Traffic & Infra, Imtech Spain, Imtech Belgium and Imtech UK / Ireland. They have also received expressions of interest in the Dutch part of the business.
Jeroen Princen, trustee of Royal Imtech N.V. said:
“Taking into account the complexity of the situation we are pleased with the progress booked so soon after the suspension of payments. The banks, as material owners of the Imtech divisions, have been able to reach unconditional agreement for the divestment of two divisions. We believe that in light of the circumstances and required urgency this step is beneficial to all stakeholders, including clients, suppliers and employees of the respective Imtech divisions.”
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