Alpine to Be Divided Up

People ♦ Published: June 27, 2013; 10:58 ♦ (Vindobona)

Swietelsky plans to take over 1,500 employees. Strabag announced interest but remains unheard.

Alpine to Be Divided Up / Picture: © Alpine Logo Press Photo

Stephan Riel, liquidator of bankrupt Alpine, will soon file a winding-down petition, according to Hans-Georg Kantner at creditor protection association KSV1870. Until then, liabilites, which were estimated at € 2.56bn, will increase up to € 3bn. In the coming days, an insolvency application is expected as well. Of the € 290m in three bonds not much is expected to be left…