Brief: Auto Italia Suspends Proceedings Commenced By Auto Italia (Hong Kong) Against Maserati

Auto Italia Holdings

16/04/2021 15:56

April 16 (Reuters) - Auto Italia Holdings Ltd  0720.HK :
    * UPDATES ON LITIGATION COMMENCED BY AUTO ITALIA (HONG KONG)
LIMITED AGAINST MASERATI S.P.A.
    * CO AND SUBSIDIARY HAVE BEEN ACTIVELY ENGAGING IN
COMMERCIAL
NEGOTIATIONS WITH MASERATI
    * PARTIES HAVE NOT YET REACHED CONSENSUS ON RELATED MATTER
    * PROCEEDINGS WILL BE SUSPENDED PENDING NEGOTIATIONS AMONG
CO,
UNIT AND MASERATI
    * GROUP HAS NO OPTION BUT TO ACCEPT TERMINATION NOTICE OF
MASERATI
DEALERSHIP NOTIFIED BY MASERATI
    * ANTICIPATED THAT DEALERSHIP BUSINESS WILL BE TERMINATED ON
26
APRIL 2021

Source text for Eikon:  ID:nHKSbGs228 
Further company coverage:  0720.HK 

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