DGAP-Adhoc: Balda AG: Sellers of Balda C. Brewer Inc. assert arbitration claims against Balda-subsidiary
02.01.2015
Balda AG / Key word(s): Legal Matter
02.01.2015 20:31
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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The sellers of C. Brewer Company, Anaheim/California, USA (meanwhile
renamed in Balda C. Brewer, Inc.), in which Balda AG, through its
wholly-owned subsidiary Balda Investments USA LLC, acquired all shares at
the end of December 2012, has submitted arbitration claims in the United
States against Balda Investments USA on December 31, 2014. The sellers
claim that the company, by certain acts, impeded the achievement of the
parameters agreed in the share sale and purchase agreement for the
performance-related purchase price adjustment (earn-out). In their
statement of claim, the sellers assert damage claims in the amount of USD 5
million, as well as punitive damages in an undetermined amount and request
the awarding of costs in connection with the arbitration proceedings to the
defendant. Balda AG deems the action to be unfounded and baseless.
Considering that the arbitral proceeding is pending and will further
develop, Balda AG can currently not make any further comment in this
respect.
Contacts
Kathrin Wiederrich
Michael Pfister
Tel: +49 (0) 5734 922-2555
ir@balda-group.com
About Balda
Balda (ISIN: DE0005215107) is a provider of first-class solutions in
plastics for demanding, high-quality applications in the fields of
healthcare, lifestyle, automotive and consumer electronics industries.
Balda has operating divisions in Europe and America and maintains
state-of-the-art production facilities at its headquarter in Bad
Oeynhausen, Germany as well as in the USA. The success of Balda, which
employs around 780 people, is based on the deployment of leading-edge,
cost-effective technologies, coupled with the trust-based and close
collaboration with customers.
www.balda-group.com
02.01.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
E-mail: info@Balda.de
Internet: www.balda.de
ISIN: DE0005215107
WKN: 521510
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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