Bloomberg News

Penta Says A-Tec Negotiations Failed, Willing to Submit New Bid

September 30, 2011

Sept. 30 (Bloomberg) -- Penta Investments Ltd. said that “due to the time constraints and due to the very different expectations of parties involved,” negotiations with A-Tec Industries AG didn’t reach a conclusion by today’s deadline.

“Penta Investments is declaring its readiness and willingness to submit a competitive and binding offer to the trustee, Dr Matthias Schmidt, for particular assets of A-Tec in due course,” according to an e-mailed statement today.

To contact the reporter on this story: Zoe Schneeweiss in Vienna at zschneeweiss@bloomberg.net

To contact the editor responsible for this story: Boris Groendahl at bgroendahl@bloomberg.net


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