Overview
- The Dutch retail and distribution group disclosed the sale in its annual report, noting the buyer will be identified once the transaction is fully closed.
- Audax recorded payments this month of nearly €7.0 million to the Belastingdienst and €1.7 million to the UWV under the agreement.
- The arrangement effectively writes off about 80% of the liabilities to the two public creditors.
- The new owner will assume the remaining obligations as part of the takeover.
- The deal ends nearly 80 years of De Leeuw family ownership following years of losses and declining magazine sales, with assets including Bruna and Marskramer.