Bifogade filer
Arbitration award regarding IP-Agency rendered
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Handel & varor |
| Industri | Detaljhandel |
Today, on 28 February 2025, BHG Group AB (publ) (“BHG”) received the result of the arbitration proceedings. According to the ruling BHG shall pay EUR 2.5m for the remaining 30% of the shares in IP-Agency Finland Oy (”IP-Agency”) and that BHG shall receive EUR 4.0m in liquidated damages. Furthermore, the minority owners must compensate BHG for legal costs at an amount of 0.4 MEUR.
As previously announced, BHG has been involved in arbitration proceedings with the 30% minority owners and founders of IP-Agency regarding the price – between EUR 2.1m and EUR 13.9m – that BHG shall pay for the remaining shares in accordance with the shareholders’ agreement entered into when BHG acquired a majority stake in IP-Agency in 2021. The dispute has, as previously announced, also included a claim by the minority owners for a higher amount of EUR 18.1m to be paid for the minority shares due to an alleged breach of the shareholders’ agreement between the parties. BHG, for its part, has claimed liquidated damages of EUR 4.0m from the minority owners for alleged breaches of the shareholders’ agreement.
BHG has previously reported a liability for an amount to be paid of EUR 13.9m, corresponding to approximately SEK 154.9m at the current exchange rate and after discounting. In light of today's arbitration ruling, the liability will be written off. The change is recognized directly against equity in accordance with the Group's accounting policies.