GERMANY - After the Austrian antitrust authorities had already given the green light for the takeover of the Alno subsidiary, the German Federal Cartel Office also approved the sale.

Thus, the last hurdles for the Alno subsidiary have been overcome and the purchase contract can now be completed.

In the course of the transferring restructuring, the business operations, the trademark rights and all around 230 employees of Pino will now be transferred to a group of investors with the participation of the kitchen furniture manufacturer Nobilia with retroactive effect from October 1, 2017.

The insolvency administrator has also succeeded in selling the Alno subsidiary Scandinavia AB based in Stockholm. The acquirer is the Luxembourg-based investment company Blue Wall Sarl. Purchase price or details of the operation were not disclosed.