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Insolvent TV manufacturer Loewe receives investment offer

German TV manufacturer Loewe has said that it has received a written investment offer in what could prove a “crucial milestone” for its restructuring efforts. 

The firm, which filed for insolvency earlier this month and is in the midst of a restructuring plan that will see it refocus itself as an entertainment platform system provider, said it is currently assessing the offer.

The disclosure, made in line with stock market regulations, did not reveal the name of the potential investor or how much they proposed to put in the business.

However, Loewe said that the next stage will see the executive board entering into negotiations with the interested parties to finalise the details of the purchase agreement.

It added that it was possible that further potential investors may now make offers. DTVE understands that an agreement is expected by the end of November.

Matthias Harsch, Loeweʼs executive board chairman said of the investment offer: “This means we have reached a crucial milestone that will put Loewe firmly back on track for success and underscores the attractiveness of the premium Loewe brand and the company as a whole.”

In July Loewe agreed a strategic partnership deal with Chinese company Hisense and has already launched its first projects with the firm, including a joint electronics platform for markets in Europe.