Monavie sold

[cabimom]

My friend told me that Monavie got bought out by Jeunesse. Interesting.

[eightthirty]

It looks like this is accurate.

Jeunesse Completes Strategic Acquisition of MonaVie to Create Leading Multigenerational Healthy Living... -- ORLANDO, Fla., March 16, 2015 /PRNewswire/ --

[rhondap]

I was so sorry to read that headline earlier today

May 12, 2015 -- Jeunesse Global is foreclosing on MonaVie Inc. after MonaVie defaulted on a $182 million note. MonaVie sold the note to TSG-MV Financing, LLC in November 2010 for $182 million, secured by the assets of the company. In March of this year, Jeunesse purchased the note from TSG, according to court documents. A press release from Jeunesse described the deal as an acquisition of MonaVie but did not disclose the purchase of the note.


MonaVie Chariman and CEO Mauricio Bellora told shareholders on Wednesday that MonaVie was in default on the note and the board of directors intended to agree to a "strict foreclosure", transfering virtually all of the company's assets to Jeunesse.




Bankers Trust of South Dakota, which is the trustee of MonaVie's employee stock ownership program (ESOP), asked the court for a temporary restraining order halting the foreclosure until it has the opportunity to review documents related to the deal. The ESOP is a major shareholder in MonaVie, and the foreclosure would make it worthless. On Monday, U.S. District Judge Bruce Jenkins granted the request. The temporary restraining order will remain in effect until May 29.

[PinkPea]

Yikes - I hope all the consultants will be okay ? Is there a plan in place to take care of their consultants and keep them informed ? I hope so.

Sending warm thoughts to all Mona Vie consultants today.


Pink Pea

[udesignit]

I skipped the update thinking it was about the sale, but now I see that outcome was foreclosure. There was another off shoot called Mynt that hit the scene last year. What will happen to those assets?

[prohealthylivin]

For those who have been wondering, those who were active Monavie representatives during this purchase by Jeunesse were moved to become Jeunesse representatives. I was one of those who moved over into Jeunesse during the official transition on June 1, 2015.

I am excited to now be with Jeunesse Global because of their natural products, the pricing of those products, and their awesome compensation plan for reps.

If anyone has more questions about how Jeunesse is now different than Monavie (for those who were familiar), feel free to PM or email me your questions.