German indoor vertical farming company Kalera GmbH, a subsidiary of Kalera Public Limited Company, has applied to undergo a court-supervised restructuring process in the form of a debtor-in-possession proceeding led by the current management team.
The wholly-owned subsidiaries of Kalera GmbH in Kuwait as well as Singapore are not affected by such proceedings and will maintain regular business operations.
Following Kalera PLC’s announcement of its intention to divest the assets of its international business on October 18th, 2022, the management of Kalera GmbH has initiated an investor process in close collaboration with external restructuring experts.
To date, Kalera GmbH has received substantial interest from external investors to invest in and/or acquire the business. While no binding agreements to acquire the company have been signed yet, management is confident to close the transaction by the end of the year and to continue its business operations beginning of 2023 after the restructuring process has been concluded.