RHJ International enters into non-binding letter of intent to
purchase majority of assets from Metaldyne Corp. following its
Chapter 11 filing
RHJ International ("RHJI") announced today that Metaldyne Corporation
("Metaldyne"), a wholly owned subsidiary of Asahi Tec Corporation
("Asahi Tec"), has filed a voluntary petition to reorganize under
Chapter 11 of the U.S. Bankruptcy Code. Asahi Tec, which was not part
of the filing, is owned 60.1% by RHJI, and is one of six RHJI
portfolio companies. Asahi Tec's assets and capital structure are
separate from Metaldyne, and it is now focusing on its Japanese
business needs and opportunities. Metaldyne, filed for Chapter 11 in
order to address its liquidity needs and to facilitate a financial
restructuring. Further details can be found in the attached press
release from Metaldyne.
RHJI also announced that it has signed a non-binding Letter of Intent
("LOI") to purchase a majority of Metaldyne's assets under a
court-supervised sale process pursuant to Section 363 of the U.S.
Bankruptcy Code.
RHJ International (Euronext: RHJI) is a diversified holding company
focused on creating long-term value for its shareholders by
acquiring and operating businesses in attractive industries. For
further information visit www.rhji.com.
Arnaud Denis
Investor Relations Director
RHJ International
Tel. +32 2 643 60 13
http://www.rhji.com
investor-relations@rhji.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.