Press release
29 November 2016
Viadeo placed into receivership on 29 November by the Paris Commercial Court
PARIS (France) - In its ruling dated 29 November, the Paris Commercial Court (Tribunal de commerce de Paris) has placed Viadeo and its subsidiary APVO into receivership for a 3 months period.
The objective with this receivership is to continue with the process to divest the company's assets, which had already been launched on a confidential basis under the supervision of the President of the Paris Commercial Court, with assistance from Christophe Thevenot, court-appointed receiver.
During the receivership process, the professional social network will remain fully operational for its customers and members.
Viadeo has already received several offers to acquire its business and keep on a significant percentage of its employees under a divestment plan that will need to be approved by the Commercial Court. These offers have been made by financially sound buyers with recognized expertise in the online recruitment market. Subject to the buyers confirming the buyout offers needed to ensure Viadeo's continuity of service for its customers and members, the Paris Commercial Court's final ruling on its buyout is expected before the end of December.
After the receivership process, the company Viadeo SA will be put into compulsory liquidation. The share trading will remain suspended.
Therefore, Viadeo's current shareholders should consider the value of their shares nil.
About Viadeo
Created in 2005, Viadeo is France's leading professional social network, with close to 11 million members. Viadeo offers businesses, whatever their sector or location, bespoke support thanks to its teams present nationwide, as well as its range of solutions tailored to their specific needs. Lastly, Viadeo offers all French talents the transparency they deserve, connecting them to all the opportunities available through their network. To learn more, visit corporate.viadeo.com.
Press contacts
Calyptus
Marie-Anne Garigue / Grégory Bosson
Tel: +33 (0)1 53 65 68 63 / +33 (0)1 53 65 37 90
viadeo@calyptus.net
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