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Deutsche Bank commissioned to find buyer for ailing Fisker
Current developments: Fisker shares worthless - Deutsche Bank looking for buyers. Avert impending insolvency. Details here! #Fisker #DeutscheBank #Insolvency #Electric cars
Deutsche Bank commissioned to find buyer for ailing Fisker
The troubled US electric car maker Fisker has hired Deutsche Bank to look for potential buyers. In order to counteract the threat of insolvency, the takeover specialist PJT Partners is also involved in the search. A Fisker spokesman confirmed the collaboration, calling it a search for a strategic partnership.
Continued weak demand for electric cars and internal issues have weighed heavily on Fisker, causing its stock value to fall about 99 percent since 2021. The planned negotiations with the Japanese car manufacturer Nissan for an entry failed. Fisker shares now only trade on NASDAQ OTC and are currently at around $0.023, a loss of 99.6 percent over the last six months.
The efforts of Deutsche Bank and PJT Partners are intended to help the company find a solution to its financial difficulties. The profound problems that Fisker is currently experiencing require rapid and effective action to ensure the company's survival. Given the rapid decline in value and failed negotiations with potential investors, finding a buyer will be crucial to Fisker's future.