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Bernhard Burgener asks for David Degen's shares to be sold.
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Keystone
Another move is the dispute between the owners of FC Basel between Bernhard Burgener and David Degen. Burgener is supported by the Board of Directors. But, there is no agreement reached.
The Monday morning session was of FC Basel Holding AG's Board Directors. Burgener and Degen together with Karl Odermatt & Peter von Buren and Peter von Buren, voted in favor of the former owner. According to a statement of the holding company, he asked Degen to sell his stake to Basel Dream & Vision AG.
The Board of Directors relies upon an agreement between the parties that permits Burgener to transfer its shares to shareholders who are minority shareholders under the same terms. As per the Board of Directors this so-called drag along right overrides Degen’s pre-sales right.
Burgener and his team have now made a move in this dispute with the owners. Degen would like to use his right to first refusal for 16.4 million Francs. Burgener was able to sell his stake of 80 percent to Basel Dream & Vision AG however, Degen is able to obtain an injunction that is superprovisional. Centricus is a British asset management firm, would also hold a stake. Burgener will remain the most popular choice.
According to the statement from FC Basel Holding AG, Burgener and Degen are reportedly seeking an out-of-court settlement "in the interest of FCB".
Website: https://www.archyde.com/burgener-wants-to-force-degen-to-sell-his-shares/
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