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Germany’s Loewe says investors have pulled out of purchase deal

25
Feb
2014

Insolvent German television maker Loewe said on Monday that an investor group had backed out of a deal to purchase its core television business. A group of investors, including a former senior manager at Apple and Bang Olufsen, said in January that they would buy Loewes core television business for an undisclosed price. Loewe on Monday called on the investors to complete the deal and said it did not believe there was any legal basis for them to withdraw from the purchase contract and that it is considering legal action.

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