Sale of A-Tec on the Brink of Failure

CompaniesTechnology ♦ Published: September 22, 2011; 12:48 ♦ (Vindobona)

The Supervisory Board of the insolvent technology group wants to take up negotiations with Penta Investments again after a Pakistani investor pulled out of the deal.

Sale of A-Tec on the Brink of Failure / Picture: © A-Tec

The sale of insolvent A-Tec Industries to Contor Industries might fail, according to Austrian weekly “Format”. The Pakistani investor Alshair Fiyaz, who planned to take over A-Tec’s subsidiary Montanwerke Brixlegg with his group Solstice International, is no longer interested in an acquisition. The amount of € 210m required to fulfill the 47% quota under the restructuring plan…