Huge interest in bankrupt Imtech

imtech flagsSome 30 parties are showing an interest in buying the divisions of bankrupt technical services company Imtech.

Among the possible buyers are vulture funds, fortune-hunters and stock exchange listed companies, sources told the Financieele Dagblad.

Imtech was declared bankrupt last Friday by a Rotterdam court and its Marine and Nordic divisions are already being sold to private investors.

The Marine business is being sold to Pon Holdings and Parcom Capital. ‘A sales process for the Nordic division is ongoing and expected to be concluded in the short term,’ the company said in a statement on Friday.

Quick sale

Company management is now looking for a quick sale of other divisions, many of which are in acute need of a new capital injection. The banks again refused to provide new credit at the weekend, the FD says.

Imtech is active in 35 countries and has a global workforce of 22,000, of whom almost 3,000 are in the Netherlands.

Since the scale of the company’s problems became apparent two weeks ago, the share price has plunged 90% and is now worth just 42 cents. Trading in shares was suspended by stock exchange group Euronext last week.


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