Mazars: Bids shortlisted for Club Asia sale

Administrators for troubled station, Club Asia, Mazars has informed BizAsia.co.uk that it has shortlisted bids from potential buyers for the sale.

The industry has been abuzz today with news about a possible announcement on a new buyer(s) after Mazars informed some parties that their bids were unsuccessful. Mazars said a final decision on Club Asia’s sale will be made in “due course”.

In a statement to BizAsia.co.uk, Rod Weston of Mazars said, “Following an unprecedented level of interest, we have made a short list of the bids we believe present the best outcome for the business and its creditors. We are very hopeful of a successful outcome, of which we will make an announcement in due course.”

The deadline for interested bidders closed on Wednesday.

Sources close to BizAsia.co.uk have informed us that initial favourite ZEE Network opted out of bidding for the Club Asia licence. A handful of other parties also pulled out of the race due to the lack of commercial viability.

As always, keep it with BizAsia.co.uk for more.

More information from Mazars is expected to reach BizAsia.co.uk on Tuesday.