Beate Uhse AG: Initiation of the M&A process

Flensburg, 2 January 2018, Beate Uhse Aktiengesellschaft (ISIN DE0007551400, WKN 755140) announces that, with the approval of the creditors’ committee, the sale process for the company was officially initiated today, in parallel to the reorganization of the company under its own management as a debtor-in-possession; in addition, an M&A advisor was also mandated for this purpose.

“It goes without saying that we are making full use of all available options and are therefore pursuing a dual track solution,” says Justus von Buchwaldt, one of Beate Uhse’s general representatives and partner in the law firm BBL Bernsau Brockdorff, which specialises in corporate restructurings. “This means that the Board of Managing Directors is working together with us on a solution to continue the business in the context of insolvency proceedings, and the company is already in promising negotiations on the granting of a debtor-in-possession loan. At the same time, we are setting up a structured M&A process, as a restructuring via the sale of the company may prove to be the best option.”

According to Dr. Georg Bernsau, second general representative of the company in the context of the debtor-in-possession proceedings, there are a large number of potential investors who have already indicated their interest in the company. In addition to strategic buyers and financial investors this includes investors who fund insolvency plans. “It is now a matter of ensuring, within the framework of an orderly M&A process, that no potential interested party is left out of the equation and that the best possible solution is found for all parties involved,” says Dr. Bernsau.

After a thorough examination of the respective offers from various M&A advisors, it was decided to have the consulting firm One Square Advisors accompany this process, which also acts as a joint representative of the bondholders.

“The high level of brand recognition and the company’s long tradition meet with the interest of potential investors as well as our customer base,” stresses Michael Specht, CEO of Beate Uhse AG. “which is of course much larger that of mere online shops”.

About Beate Uhse AG:
Beate Uhse was founded in 1946 and is a European erotic company with around 345 employees (FTE) in seven countries. Beate Uhse stands for over 70 years of experience and expertise in the erotic industry and has a very high brand recognition. The focus is on B2C, which is covered by two central sales channels – e-commerce and stationary retail – and which are closely interlinked as part of the cross-channel strategy. The Beate Uhse share (XETRA: USE. DE) has been listed on the Frankfurt Stock Exchange since May 1999. More information can be found at www.beate-uhse.ag.

About BBL:
BBL is one of the leading law firms with an exclusive focus on reorganisation, restructuring and insolvency. The firm has extensive experience in complex restructuring projects both within and outside insolvency proceedings. More than 50 lawyers work at BBL in Germany and in London.
Further information: www.bbl-law.de

Contact:
BBL Bernsau Brockdorff & Partner Attorneys at Law
Dr. Georg Bernsau
solicitor
Phone: +49 69 963761-130 – Fax: +49 69 963761-145
E-mail: frankfurt@bbl-law.de