The West Flemish entrepreneur Guido Dumarey is no longer a candidate to take over bus builder Van Hool from Koningshooikt. There is now only one option left to save the moribund company after a so-called ‘flash bankruptcy’: a takeover by the Dutch bus builder VDL and the German trailer and semi-trailer manufacturer Schmitz Cargobull.
The consortium of VDL Group and the German trailer builder Schmitz Cargobull is now the only candidate acquirer. That consortium has long been regarded as the candidate with the best chances. In recent days it became clear that competitor Dumarey Group of the West Flemish entrepreneur Guido Dumarey, nicknamed the ‘business doctor’, was gradually dropping out. The holding company had a problem with the value of Van Hool’s contents: land, buildings, brand name, inventory. This is estimated at 200 million euros. Dumarey disputes that price because soil pollution has been found on the sites.
In addition to the 200 million, which will de facto be paid to Van Hool’s creditors, such as the banks, working capital is also required. This puts the price well above 200 million. Dumarey had an offer that was valid until April 8, but now that it appears that the curators are asking for an extension of their assignment, he withdraws. “It’s over,” Dumarey told The Latest News. This is also confirmed from other sources to our sister newspaper De Standaard. Not only the contaminated soil would play a role, completed buses and trailers would also have left for Macedonia in recent days. According to Dumarey, this not only makes a quick restart more difficult, but also more expensive.
The curators’ discussions with VDL Group and Schmitz Cargobull will continue next week. This will probably be followed by bankruptcy and a quick takeover. Many jobs are at risk of being lost during the restart.