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Sandton Capital gets OK for the acquisition of Adveo's businesses in Belgium and France

Picture showa a detail of Adveo's business in France.
Photo Courtesy of Adveo
20 May 2019 − 

Adveo Italia files for initiation of liquidation proceedings after talks with potential investors prove unsuccessful.

Sandton Capital Partners has got the green light to acquire Adveo Group's businesses in France and Belgium. According to the ailing Spanish office supplies wholesale company, the relevant court authorised the sale of the company's affiliates Adveo France and Adveo Belgium to the US investment firm. The sale was to be formalised in the coming days, Adveo said in a "relevant fact" announcement on 16 May.

Adveo's office supplies business in Italy did not attract the interest of investors in a manner necessary to safeguard a future for the company. Adveo announced last week that negotiations with potential investors did not bear fruit and that the Adveo Italia decided to file for the opening of liquidation proceedings.

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