Leoni announced this on Wednesday. Accordingly, the court confirmed the restructuring plan.
As reported, the restructuring concept provides that Pierer brings in 150 million euros, becomes the sole owner of Leoni, a specialist in cable harnesses, wire and wiring systems, and takes Leoni off the stock exchange. Leoni is relieved of liabilities in the amount of 708 million euros. After receiving the merger control clearance, the implementation of the restructuring plan should begin.
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