Brief: Banks To Terminate Cooperation Agreement With Enento Related To Swedish Platform Supporting Housing Transaction Processes

Enento Oyj

24/03/2022 10:07

March 24 (Reuters) - Enento Group Plc  ENENTO.HE :
    * BANKS TO TERMINATE COOPERATION AGREEMENT WITH ENENTO
RELATED TO
SWEDISH PLATFORM SUPPORTING HOUSING TRANSACTION PROCESSES FOR
BANKS AND REAL ESTATE BROKERS IN 2023
    * COMPANY WILL BOOK AN IMPAIRMENT IN RELATION TO TRANSFER;
NEGOTIATIONS ON TERMS OF TRANSFER CONTINUE
    * CONSORTIUM OF 7 BANKS HAS INFORMED ENENTO THAT IT IS
TERMINATING
COOPERATION AGREEMENT IN ACCORDANCE WITH ITS TERMS AND WILL USE
ITS RIGHT TO PURCHASE RELATED PLATFORM CONSISTING OF SOFTWARE
AND SOURCE CODE
    * BANKS WILL PAY 16 MILLION SWEDISH KRONAS (APPR. 1.5
MILLION
EURO) FOR ACQUIRING PLATFORM
    * BASED ON TERMINATION NOTICE PERIOD, TRANSFER OF PLATFORM
IS
CURRENTLY EXPECTED TO TAKE PLACE EARLIEST DURING Q2 OF 2023, BUT
NEGOTIATIONS REGARDING TERMS OF OPERATIONS UNDER TRANSITION
PERIOD AND TIMELINE FOR TRANSITION CONTINUE

Source text for Eikon:  ID:nGNE8TVrXK 
Further company coverage:  ENENTO.HE 

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