Brief: Leoni Says Stark Corp Refuses To Perform Closing Of Sale Of BG AM

Leoni AG

13/12/2022 11:01

Dec 13 (Reuters) - LEONI AG  LEOGn.DE :
    * STARK CORPORATION REFUSES TO PERFORM THE CLOSING OF THE
SALE OF
BG AM; REFINANCING PLAN CANNOT BE IMPLEMENTED FOR THE TIME
BEING; CREDIT FACILITIES BECOMING DUE TO BE TEMPORARILY EXTENDED
    * AS NO GROUNDS FOR NON-PERFORMANCE OF CLOSING EXIST, STARK
IS IN
LEONI'S VIEW ACTING IN BREACH OF CONTRACT.
    * LEONI WILL TAKE ALL MEASURES TO ENFORCE ITS RIGHTS AGAINST
STARK.
    * BUYER STARK HAS TODAY UNEXPECTEDLY DEMANDED VERY
SIGNIFICANT
AMENDMENTS TO PURCHASE AGREEMENT
    * STARK CORPORATION REFUSES TO PERFORM CLOSING OF SALE OF BG
AM;
REFINANCING PLAN CANNOT BE IMPLEMENTED FOR TIME BEING; CREDIT
FACILITIES BECOMING DUE TO BE TEMPORARILY EXTENDED
    * DESPITE WILLINGNESS TO COMPROMISE ON SIDE OF LEONI, STARK
REFUSES TO AGREE AND WILL NOT PERFORM CLOSING

Source text for Eikon:  ID:nEQHMKz2a 
Further company coverage:  LEOGn.DE 
 (Gdansk Newsroom)
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