CHIHO ENV (00976) announced that the group received a notice from FTI Consulting on May 14, 2025, regarding the appointment of joint receivers and managers for the shares of its wholly-owned subsidiaries CRD, CRIH, and CTRL. The company has been informed that on May 5, 2026, the receivers entered into a sale and purchase agreement with Derichebourg S.A. (the buyer) to sell 100% of the equity in Scholz Holding GmbH and Scholz Recycling GmbH (collectively, the "Scholz Group") held by CRIH and CRD to the buyer. This transaction is subject to the fulfillment of customary conditions precedent, including approvals related to merger control and foreign investment. The transaction is expected to be completed in the second half of 2026.
The company has also been informed that, under the terms of the guarantee enforcement process and the appointment of the receivers, it retains the right to reach a settlement with relevant creditors, release the share pledges, and terminate the transaction before its completion. No further details of the transaction are currently known to the company. If the transaction is successfully completed, the Scholz Group will cease to be a subsidiary of the company, and its financial results will no longer be consolidated into the group's financial statements.
Based on publicly available information, the buyer is a company listed on Euronext (Stock Code: DBG) and primarily provides environmental services to businesses and local and municipal authorities in Europe. To the best of the directors' knowledge, the buyer is an independent third party and is not connected to the company or its connected persons as defined under the listing rules.
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