January 13, 2020 / 6:47 AM / 16 days ago

BRIEF-Bioera Signs Settlemnet Agreement With Idea Team

Jan 13 (Reuters) - Bioera SpA:

* SAID ON SATURADY CO SIGNED SETTLEMENT AGREEMENT WITH KI GROUP , BIOFOOD ITALIA, AND IDEA TEAM

* UNDER AGREEMENT BIOERA, KI GROUP, AND BIOFOOD WILL BE PAYING EUR 3.5 MLN TO IDEA TEAM

* UNDER DEAL, BIOERA AND BIOFOOD WILL BE PAYING EUR 0.1 MLN TO IDEA TEAM IN THREE TRANCHES UNTIL DEC. 2024

* UNDER SAME DEAL, KI GROUP WILL BE PAYING EUR 3.4 MLN TO IDEA TEAM, OF WHICH EUR 1.9 MLN AS CONSIDERATION FOR RIGHT OF WITHDRAWAL

* UPON PAYMENT OF EUR 0.6 MLN BY FEB. 14, IDEA TEAM WILL TRANSFER TO KI GROUP SHARES SUBJECT TO WITHDRAWAL

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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