The Belgian bus company Van Hool is definitively coming into the hands of Eindhoven-based competitor VDL Groep. This will take over the remnants of the bankrupt company jointly with the German Schmits Cargobull. They are putting €200 million to take over the company. This ends the negotiations that almost threatened to collapse at the beginning of this week.
Van Hool was officially declared bankrupt on Monday. VDL, the competitor from Eindhoven, saw its chance to take over the company and made a joint offer with the German trailer company Schmitz Cargobull. But two days later another bidder appeared on the coast. Belgian businessman Guido Dumarey and the American company ABC Companies also made a bid.
VDL indicated that there was no point in bidding against each other. They issued an ultimatum to the trustees: ‘We want an answer by tonight, otherwise it is no longer necessary for us’. They received the answer. The trustees are sticking with the parties that already came out best from last week’s selection process. According to the trustees, VDL Groep has the strongest financial basis and can therefore best fulfill its promises.
It was announced earlier that VDL would get about two-thirds of the company in a takeover, with the rest going to the Germans. Exactly how the company will be divided is still under negotiation. The takeover will save 650 to 950 jobs.
Source: Studio040
Translated by: Chaitali Sengupta
