Investor is in wait – The last battle of the MCH GroupDie both Basel and the Canton and city of Zurich are when trying to get a national and international exhibition and Convention group, failed. Kurt Tschan0 KommentareDie Baselworld for a long time was the most profitable fair in Basel. This year, she was buried. Photo: Yvain Genevay, “Le Matin Dimanche”
not later than 2023, if a bond of 100 million Swiss francs will be charged, is likely to find Basel’s MCH Group, in all likelihood, any new lenders and more. The two of Basle, the city and the Canton of Zurich, to hold a share of 49 percent, therefore, are no longer willing to stuff more millions of public funds into the ailing company. Rather, the threat of insolvency is to be avoided in the context of a capital increase. In the breach, a private Investor jumps.
The company rescue is done in lightening speed. Already in the next days and weeks, but up to the summer holidays in Basel and Zurich, the course for the MCH Group. Whose value has fallen in the last five years dramatically to 75 percent.
Now the MCH Group is threatened as a result of the Corona pandemic, the breath can be assumed throughout. The sales is likely to break this year by up to 40 percent, and the reserves of the group will soon be depleted. The implementation of the Art Basel is still on a knife’s edge, the once-profitable watch and jewellery show Baselworld will take place after the departure of big watch brands such as Swatch and Rolex, in a different Form in Geneva. Audience trade fairs, such as the Muba or Züspa were deleted earlier from the calendar of the Basel, after they had heaped up the losses.
exhibition sites in Zurich and Basel, in the long term
“securing The financial parameters of the company, present tense,” say it in a eight-page message to the Basel governing Council to the Grand Council. Due to the Covid-19-crisis, the liquidity’m going to put felt in the claim. While in Basel, the Parliament shall decide on the request of the government, to waive in the framework of a capital increase, the subscription rights for new shares in favor of the private Investor, the decision in Basel country in the governing Council.
In the city of Zurich, the city Council will establish, in the framework of a template, in which competence it is to decide whether new private investors take up the reins at the MCH Group. In the Canton of Zurich, the starting position is open. The competence in order to decide, depending on the value of any subscription right, as the spokesman of the Finance Department, Roger Keller, confirmed. According to information this newspaper, the decision has already been made. The three cantons, as well as the city of Zurich will waive its right, and thus open the way for a new majority.
“The negotiations with the Investor are advanced, but not yet finished,” said the Basler message. This will hold after the capital increase of 30 per cent of the shares. He only has to swallow a toad in the Form of a blocking minority. This provides for the implementation of profitable fairs and congresses in Zurich and Basel, through an adequate, longer period of time, as well as activities in the Life Marketing area.
the cat in The bag to buy
who is the Investor, the cantons have nothing to say. This should particularly be a Problem if the Basel Canton Parliament should agree to the bargain. In fact, the people would buy the representatives of the cat in the bag. The extraordinary General meeting of MCH Group, the modalities of the capital increase in controlled, taking place only at a later date.
In a second step, the Great Council is to make another Deal nod in agreement. A subordinated, interest-free loan from the Canton to the MCH Group in the amount of 30 million Swiss francs would be converted into share capital. From a requirement of the Canton to the MCH Group, there was a risk of participation would be.
The Zurich Erhard Lee was fought in the past, the only big private Investor, the more influence in the MCH Group. He manages according to its own information assets of 1.5 billion Swiss francs. Of these, 360 million in a Fund. With this he invested in Swiss company stocks. About five percent are placed in the MCH Group. In mid-April, Lee had told this newspaper that he wanted the MCH Group’s “battles”, so that the individual parts could be integrated into larger, professional companies. The halls in Basel and Zurich would open for a more diverse use, “rather than to 80 percent empty, guarded”.
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