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Trapped H2O Investors Inherit Stake in Troubled Taxi App

  • Notes linked to Gett were handed over by Windhorst in January
  • Gett’s valuation has tumbled this year, listing was shelved
Gett ride-hailing app

Gett ride-hailing app

Photographer: Andrew Harrer/Bloomberg
Updated on

Investors who have been trying for two years to reclaim money trapped in H2O Asset Management have had a new problematic investment dumped on their books: a ride-hailing app whose valuation has tumbled 75%.

German entrepreneur Lars Windhorst -- as part of an ongoing attempt to repay money owed to the money manager -- in January agreed to hand over notes linked to London-based hailing app Gett, according to a letter published on the firm’s website last week. H2O clients are owed about 1 billion euros ($1 billion) from assets that were frozen by the French regulator.