Deals
A-Tec Reopens Penta Talks to Meet Deadline as Fiyaz Pulls Out
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A-Tec Industries AG is seeking new talks to find a buyer as the insolvent Austrian engineering company races against a Sept. 30 deadline to raise funds to pay creditors.
A-Tec is restarting negotiations with Penta Investments Ltd., a Czech suitor whose previous bid was rejected, after a member of a group that agreed to buy some assets pulled out, Nicole Berger-Akin, an A-Tec spokeswoman, said today by phone from Vienna. She confirmed a report by Austrian magazine Format today that Pakistani investor Alshair Fiyaz’s Solstice International is no longer interested in acquiring A-Tec’s Montanwerke Brixlegg unit.