Orphanides: Low interest in purchasing properties and assets
17/5/2013 8:02
The Receivers/Administrators of Orphanides Public Company Ltd announce the following:
The opening of the sealed bids for the assets of Orphanides Public Company Ltd took place yesterday, May 15, 2013 at the Law Office of Georgios Yiangou DEPE, as already announced. It was attended by the Receivers/Administrators, legal advisors, representatives of banks as well as the Committee representing the unsecured creditors of the Company.
Unfortunately, the interest in purchasing properties and assets of Orphanides Public Company Ltd was low and below expectations. Specifically, overall 7 bids were submitted, only few of which are close to the economic data set by the Receivers/Administrators.
In the next few days, the Receivers/Administrators will examine carefully all bids and will decide on their next steps.
It is noted that the unfavourable developments in the past weeks and after the recent Eurogroup decisions had a negative impact on the submission of bids and the expression of interest. The Receivers/Administrators will examine the data and will release an announcement.
The opening of the sealed bids for the assets of Orphanides Public Company Ltd took place yesterday, May 15, 2013 at the Law Office of Georgios Yiangou DEPE, as already announced. It was attended by the Receivers/Administrators, legal advisors, representatives of banks as well as the Committee representing the unsecured creditors of the Company.
Unfortunately, the interest in purchasing properties and assets of Orphanides Public Company Ltd was low and below expectations. Specifically, overall 7 bids were submitted, only few of which are close to the economic data set by the Receivers/Administrators.
In the next few days, the Receivers/Administrators will examine carefully all bids and will decide on their next steps.
It is noted that the unfavourable developments in the past weeks and after the recent Eurogroup decisions had a negative impact on the submission of bids and the expression of interest. The Receivers/Administrators will examine the data and will release an announcement.
