MCH Group rejects Schoemmel proposal to sell majority in Art Basel
MCH Group has rejected a proposal from private investor Annette Schoemmel to sell a majority in its ‘Art Basel‘ expo, as reported by Finanz und Wirtschaft. Schoemmel told the Swiss bi-weekly she intends to form a consortium of investors, led by her XanaduAlpha investment company, that would acquire a majority in Art Basel. MCH is currently considering a capital increase but Schoemmel said another possibility would be to transfer Art Basel into an independent company and sell a 70% majority.
