Loewe new acquisition partner after failed rescue




German TV manufacturer Loewe remains exist, investment Stargate Capital has taken over the company. A previous attempt to save the TV maker failed because the group was not interested investors financing in order.

Loewe Stargate Capital will acquire the entire company and continuing the production or disappearance of 95 525 jobs, reports the Süddeutsche Zeitung. There are mainly jobs were eliminated in the production department of the company. There were no plans to take away production from Germany, Loewe still today produces all the TVs in his home country. The price of the acquisition was not disclosed but is said to be around ten million.

Loewe early in July last year deferred payment, followed in October, an application for bankruptcy of the TV maker. The company made a profit for three more years and has primarily affected by competition from Asian companies. In January it was announced that a group of investors consisting of family entrepreneurs and former executives from Apple and Bang & Olufsen, the company would take over . However, they did not get the financing round, so the acquisition could not continue.


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