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Medfort takes over PrimaCom
Jörn Krieger
Luxembourg-based investment group Medfort will acquire all shares in troubled German cable operator PrimaCom. Creditors have agreed to the sale.
The move secures the future of PrimaCom which had to file for insolvency in mid-June. The creditors had requested repayment of loans amounting to almost €30m which the company, with debts of around €340m, could not pay back.
PrimaCom provides around 700,000 households, mainly in eastern Germany, with TV, internet and telephony services. Medfort is backed by a group of private investors who are not part of PrimaCom‘s shareholder or creditor circle.
Financial details have not been disclosed.
Jörn Krieger
Luxembourg-based investment group Medfort will acquire all shares in troubled German cable operator PrimaCom. Creditors have agreed to the sale.
The move secures the future of PrimaCom which had to file for insolvency in mid-June. The creditors had requested repayment of loans amounting to almost €30m which the company, with debts of around €340m, could not pay back.
PrimaCom provides around 700,000 households, mainly in eastern Germany, with TV, internet and telephony services. Medfort is backed by a group of private investors who are not part of PrimaCom‘s shareholder or creditor circle.
Financial details have not been disclosed.