CTS Eventim AG & Co. KGaA
CTS Eventim AG & Co. KGaA: Joint Venture of CTS EVENTIM and Kapsch TrafficCom quantifies its claims against the Federal Republic of Germany at approx. EUR 560 millions
CTS Eventim AG & Co. KGaA / Key word(s): Statement Ad hoc ANNOUNCEMENT Joint Venture of CTS EVENTIM and Kapsch TrafficCom quantifies its claims against the Federal Republic of Germany at approx. EUR 560 millions
Following the termination of the operating agreement regarding the infrastructure levies with effect as of 30 September 2019 by the Federal Ministry of Transport and Digital Infrastructure, autoTicket GmbH and its two shareholders decided today that the contractually agreed payment claims against the Federal Republic of Germany amount to a total of approx. EUR 560 millions and to assert claims in this amount in several steps now. The contracting parties have agreed on a compensation after termination of the agreement by the Federal Republic of Germany for a reason such as the present one, equal to the loss of profits over the term of the agreement (i.e. enterprise value minus expenses saved due to the termination). In addition the operating agreement provides for a compensation of the costs arising from the termination of the agreement which includes compensation claims of subcontractors. The operating agreement provides for an efficient procedure for dispute resolution: First an independent auditor shall validate the amount of the asserted loss of profits. Thereafter an arbitral tribunal will decide on the correctness of all asserted claims. For more information: Investor Relations:
19-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | CTS Eventim AG & Co. KGaA |
Rablstr. 26 | |
81669 München | |
Germany | |
Phone: | 0421/ 3666-0 |
Fax: | 0421/ 3666-290 |
E-mail: | info@eventim.de |
Internet: | www.eventim.de |
ISIN: | DE0005470306 |
WKN: | 547030 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 940407 |
End of Announcement | DGAP News Service |