# B&C Group exits Schur Flexibles stake due to irregularities

B&C Group is divesting its 80% stake in packaging manufacturer Schur Flexibles to a new owner group led by Apollo and other creditors, after discovering massive irregularities in previous years' balance sheets and gross misconduct by former managers. The agreement was signed on June 4, 2022, with closing expected in autumn 2022.

- Type: Acquisition
- Announced: 2022-06-07
- Where: Wiener Neudorf, Austria, Austria
- Status: announced
- Products: flexible packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Schur Flexibles Group](https://endata.com/companies/367.md) (target)
- [Apollo Global Management](https://endata.com/companies/3851.md) (acquirer)
- [B&C Group](https://endata.com/companies/7985.md) (partner)

## Sources

- [derstandard.de](https://www.derstandard.de/story/2000136367426/bc-steigt-wegen-unregelmaessigkeiten-bei-schur-flexibles-wieder-aus), 2022-06-07: "Der Ausstieg erfolgt, nachdem von B&C bei Schur Flexibles massive Unregelmäßigkeiten in den Bilanzen der Vorjahre und grobe Verfehlungen durch ehemalige Manager entdeckt wurden."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.