Rumors about Moulin selling its 56% stake in Ecca

According to a report published last week on the South China Morning Post, the U.S. subsidiary and most valuable asset of debt-ridden Moulin Global Eyecare Holdings could itself face liquidation.

The paper, citing a source, said Moulin's creditors were keen to sell the company's 56% stake in Eye Care Centers of America as soon as possible.

After this report, Ferrier Hodgson, the court-appointed liquidator of Moulin Global Eyecare, said in a statement that they're 'considering all options available to them in relation to the group's remaining assets, including the group's investment in Eye Care Centers of America'. The liquidator, added the statement, is 'currently considering a range of options including a near-term sale of [Moulin's] equity interest or holding the investment on a longer-term basis pending a possible initial public offering of ECCA in the U.S'.

The statement also said discussions have taken place with Golden Gate, Moulin's joint-venture partner in Ecca and with 'a number of third parties interested in the Ecca asset. 'If a disposal of this investment is in the best interests of all relevant stakeholders, the provisional liquidators are of the view that a sale can be structured in such a way so as to avoid placing strain on Ecca's own financing arrangements', the statement noted.

(Source: Vision Monday)