The Commercial Court of Antwerp approved on 26 October 2012 the judicial reorganization for Alfacam Group and its associated companies granting Alfacam Group protection for three months. A protection granted until 5 February 2013.

As requested by the Court, Alfacam Group had to submit a restructuring plan around mid of January 2013.

Meanwhile Alfacam Group and Hinduja Group signed a Memorandum of Understanding. The companies have started exclusive negotiations in order to reach a full agreement. This agreement will offer Alfacam Group a structural solution securing the future of the Group.

After the signature of this MoU, Alfacam Group and Hinduja Group started a due diligence process around financial, tax, legal and commercial aspects of the company. This process takes time and Alfacam has therefor filed for an extension of the protection for another 3 months. This will allow both companies to work properly on the finalization of the transaction.

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