As part of the judicial recovery and judicial safeguard procedures opened by AST Groupe and its subsidiaries, the Lyon commercial court designated, on Tuesday, November 26, “as buyer of the industrial assets” of AST Groupe a consortium which includes the number 1 in the construction of individual houses in France, Hexaom, according to a press release from the group in difficulty.
The latter specified that this designation took effect immediately.
“Preservation of a large part of jobs”
The takeover offer, formulated on September 30, concerns “all of the assets and activities of the sole construction and marketing branch of garden studios, wooden frame houses, frames and carpentry”, for their part underlined in a joint press release Trecobat and Hexaom, buyers in equal shares.
In fact, real estate development and land development activities are not affected by the takeover. “The takeover by Hexaom and the Trecobat group ensures the preservation of a large part of the jobs,” welcomed the buyers.
Two subsidiaries placed in compulsory liquidation
Faced with the violent crisis in new real estate, the AST group, based in the Metropolis of Lyon, in Décines-Charpieu, announced in April the opening of an accelerated safeguard procedure at the Lyon commercial court. But its backup plan was rejected by the company's creditors in July.
This rejection prompted the company to request, in August, the opening of legal recovery procedures for its subsidiaries DPLE and Maisons IDEOZ, active in the construction of traditional houses. These procedures were converted on Tuesday by the commercial court into compulsory liquidation, according to the AST press release.
The court also put an end to the judicial safeguard procedures concerning the subsidiaries of AST POBI Structures and POBI Industrie of construction of wooden houses and studios.
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