Lehto Group Plc
18 December 2023 at 23.50 (Finnish time)
Lehto Group Plc (”Lehto” or the ”company”) announced on 24 October 2023 that it had entered into a letter of intent with an European fund management company (the “Purchaser”) concerning the sale of Lehto’s operative subsidiaries (“Transaction”). The parties have today decided to terminate the letter of intent related to the Transaction. Therefore, the Transaction in question will not be carried out.
Lehto continues negotiations concerning the sale of its business or parts of it as well as other restructuring opportunities with different parties. The company will announce the measures that it will take as soon as the board of directors has evaluated the effects of the cancellation of the Transaction and the alternatives available to the company.
Lehto estimates, that without any further financing or funds from new projects, the company will not be able to fulfil its payment obligations during the whole first quarter of 2024.
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