Buyer to be chosen from list of four should US optical firm ECCA be sold
Moulin Global Eyecare Holdings' provisional liquidators will decide next month whether to sell the firm's best asset, Eye Care Centers of America (ECCA), or keep it for a future US listing.
One of the liquidators, Roderick Sutton, said if ECCA - the third largest optical retailer in the United States - were sold, a buyer would be chosen by next month.
The list of potential buyers of ECCA had narrowed to four companies including one from Hong Kong, from five last month, said Mr Sutton, executive director of turnaround firm Ferrier Hodgson.
If the liquidators sell ECCA, it would be at a higher price than the US$252 million that Moulin paid to acquire 56 per cent of ECCA in March, said an insider.
Shortly after the acquisition, Moulin's debt and corporate governance problems surfaced, culminating in it being placed under provisional liquidation in June at the request of HSBC.
