The bankruptcy administrator of the Inapa group has informed the company’s creditors that four purchase proposals have been received from different entities for assets located in Portugal and France. The report released on Friday reveals that there were no proposals for the entire Inapa group, except for an offer conditioned on a capitalisation of 50 million euros made by the current shareholders.
Inapa’s request for insolvency due to non-payment in Germany was precipitated by the refusal of its largest shareholder, the public company Parpública, to proceed with the emergency financial support requested by the previous administration.
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There were also no offers for the group’s companies in Germany, which is the group’s main market but where the cash flow problems began, nor for Spain, Belgium or Türkiye.
The same document reveals that at least two proposals were submitted for the purchase of Inapa France and Inapa Packaging (packaging). In the case of the latter, Next Pack SAS made a binding offer of 20 million euros acquire the entirety of Inapa Packaging SAS and its French subsidiaries, which is subject to authorisation from the competition regulator.
There were also expressions of interest in a possible acquisition of Inapa Portugal and several investors asked to guarantee the activity of Inapa Shared Center, which provides services to several companies in the paper distribution group.
In light of these statements, the bankruptcy administrator (Bruno da Costa Pereira) proposes that a general meeting be held to maintain the activity of the company that is currently under bankruptcy administration, without this representing the suspension of the liquidation process. This is with the aim of taking measures to sell the shares. And the authorization to immediately carry out the sale of Europackaging, owner of Inapa Packaging and its subsidiaries —SEMAQ and Embaltec— to Next Pack.
The general meeting of creditors will be held on September 27. BCP and Novo Banco are among Inapa’s main creditors.
Source: Observadora
