It doesn't look like anything has changed since we last discussed this. They announced they were going to be acquired by Barings in June with the actual transaction to follow sometime in the fall. I believe "foreclosed on" is a more accurate description than bought as Barings was the company's largest debt holder. Even the press release uses the word "acquired" instead of "purchased".They were bought by Barings. Barings is an investment group that had a partial investment in AL for years anyway and decided to buy 100% control. AL isn't going anywhere....
The absence in the press releases of any commitment to inject fresh capital is notable. But maybe Barings will ease up on the extraction of cash which might be enough to give it a fighting chance. They do at least talk about giving them some time to see if they can turn it around.
BARINGS TO ACQUIRE AQUALUNG GROUP, THE WORLD LEADING MANUFACTURER OF EQUIPMENT FOR DIVING AND HIGH PERFORMANCE WATER SPORTS - DiveNewswire
Barings, one of the world’s leading investment managers, has entered into exclusive discussions to acquire 100% of the Aqualung Group, a global leader in manufacturing equipment for diving and highperformance water sports. All key stakeholders, including Barings as shareholder, as well as the...
www.divenewswire.com