Brief: CTS Eventim: Arbitral Tribunal Affirms Claim For Compensation Of Joint Venture Of CTS And Kapsch TrafficCom

Kapsch TrafficCom AG

28/03/2022 06:33

March 28 (Reuters) - CTS EVENTIM AG & CO KGAA  EVDG.DE :
    * SAID ON FRIDAY: ARBITRAL TRIBUNAL AFFIRMS CLAIM FOR
COMPENSATION
OF JOINT VENTURE OF CTS EVENTIM AND KAPSCH TRAFFICCOM AGAINST
THE FEDERAL REPUBLIC OF GERMANY
    * AUTOTICKET GMBH (JOINT VENTURE OF CTS EVENTIM AG CO. KGAA
AND
KAPSCH TRAFFICCOM AG) HAS ASSERTED CLAIMS FOR COMPENSATION IN
AMOUNT OF EUR 560 MLN AGAINST GERMANY
    * ARBITRAL AWARD ALSO REJECTED POOR PERFORMANCE, AS ALLEGED
BY
GERMANY, AS REASON FOR TERMINATION
    * FIRST PHASE OF THE TWO-STAGE ARBITRAL PROCEEDINGS HAS THUS
BEEN
CONCLUDED
    * IN SECOND PHASE OF ARBITRAL PROCEEDINGS, A DECISION IS
MADE ON
AMOUNT OF CLAIM

        
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