Tuesday, December 22, 2009

Decision on Voxan Turnaround Postponed

It seems there will only be one option left for troubled French motorcycle manufacturer Voxan. I just learned that SODEMO, the original developers of the Voxan powerplant have pulled out the proposal for a takeover. That leaves only the Luxembourg based real estate holding company FIL left to pick up the cards. Their completed file was presented court in Clermont-Ferrand on Friday.  After reviewing the propose, the court will offer its final decision on the bid on December 29.  Between now and then, FIL will have to secure all its financial guarantees in expectation of making its initial payment of 10 million Euros, 1 mil of which will be for the buyback of stock and the remained addressed at relaunching the marque.

Here hoping for a Very Happy New Year 2010 for Voxan!

Source: Vadimof