CO.DON finally saved - investor has taken over the business operations of the Leipzig-based biopharmacy c
CO.DON continues business operations as a GmbH (limited liability company)
LEIPZIG and TELTOW, GERMANY, Jan. 25, 2023 /CNW/ -- With effect from 20.01.2023, CO.DON's business activities will be continued in the legal form of a GmbH (limited liability company) following a transferring reorganisation.
The asset deal with Rejuvenate GmbH, a company of the American-Chinese ReLive Group, concluded in October 2022 as a result of a structured M&A process, has now been successfully completed through the fulfilment of the suspensive contractual conditions. Rejuvenate GmbH, which is now renamed into CO.DON GmbH, took over the operative business and the cooperation with business partners and customers will continue seamlessly. The former CO.DON AG executive board member, who has been leading the company through the insolvency proceedings in self-administration, has been appointed managing director of CO.DON GmbH. The remaining liquidation of CO.DON AG in the regular insolvency proceedings will be carried out by lawyer Rdiger Wienberg, who has now been appointed insolvency administrator by the insolvency court. The asset deal was professionally accompanied by Dr. Wieselhuber & Partner GmbH under the leadership of the distressed M&A team led by Jrg Balz.
Continue read on benzinga.com