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BRIEF- KTM Industries succeeds in arbitration proceedings regarding sale of Peguform-Group
February 24, 2017 / 6:19 AM / 9 months ago

BRIEF- KTM Industries succeeds in arbitration proceedings regarding sale of Peguform-Group

Feb 24 (Reuters) - KTM Industries AG:

* Said on Thursday succeeds in arbitration proceedings regarding the sale of the Peguform-Group

* Arbitration proceedings regarding the sale of the Peguform Group in the year 2012, pending for about 4 years with a German arbitration court, was decided to one hundred percent in favor of PF Beteiligungsverwaltungs GmbH, a 100 percent subsidiary of KTM Industries AG

* Remaining purchase price of about 20.4 million euros, that has been stored in a trust account since the sale of the shareholding, will now be allocated entirely to the KTM Industries corporate group

* Plaintiff was sentenced to replace the bulk of the litigation costs and the court fees that incurred for KTM Industries

Source text - bit.ly/2kT5dNt

Further company coverage: (Gdynia Newsroom)

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