Brief: OHLA Says Court of Appeal Dismisses Request To Block Guarantees Under Contract in Kuwait
24/03/2025 06:14
March 24 (Reuters) - OHLA OHLA.MC: SAID ON FRIDAY THE PARIS COURT OF APPEAL ISSUED A JUDGMENT DISMISSING THE REQUEST TO BLOCK THE PERFORMANCE GUARANTEES AND ADVANCE PAYMENT GUARANTEES PROVIDED BY THE JOINT VENTURE FORMED BY THE COMPANY AND RIZZANI DE ECCHER IN FAVOUR OF KUWAIT UNDER THE JAMAL ABDUL NASSER STREET CONTRACT AND LIFTING THE INTERIM MEASURES THE PERFORMANCE GUARANTEES (FOR WHICH THE COMPANY IS LIABLE FOR ABOUT 35.3 MILLION EUROS) AND THE ADVANCE PAYMENT GUARANTEES (FOR WHICH THE COMPANY IS LIABLE FOR ABOUT 3.9 MILLION EUROS) WERE EXECUTED BY KUWAIT ON JULY 31 2024 AND HAVE BEEN BLOCKED BY THE FRENCH COURTS TO DATE Source text: https://tinyurl.com/4d72z2du Further company coverage: OHLA.MC ($1 = 0.9233 euros) (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))