Brief: Bioera Signs Settlemnet Agreement With Idea Team

Ki Holding SpA

13/01/2020 06:46

Jan 13 (Reuters) - Bioera SpA  BIE.MI :
    * SAID ON SATURADY CO SIGNED SETTLEMENT AGREEMENT WITH KI
GROUP
 KI.MI , 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:  urn:newsml:reuters.com:*:nBIAbJ3gJG urn:newsml:reuters.com:*:nBIA79lMyF
    
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