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Bernhard Burgener is requesting the sale of David Degen shares.
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Keystone
Bernhard Burgener vs David Degen is another move in the FC Basel owner dispute. The Board of Directors supports Burgener's plans. But there is no agreement reached.
Monday morning was the day of FC Basel Holding AG's board of directors. Burgener, Degen, Karl Odermatt and Peter von Buren voted in favor of the previous owner's plans. According to https://www.youtube.com/watch?v=DHYTMAYLMtU issued by the holding company Degen demanded Degen to dispose of his stake in Basel Dream & Vision AG.
Burgener's shares can be sold to minor shareholders by the Board of Directors under the conditions of a contractually defined law. According to the Board of Directors this so-called drag along right is in contrast to Degen's rights to presale.
Burgener and his group have made a move on the dispute between the owners. Degen insists on his right to first refusal. He would like to use this right to 16.4 million Francs. Burgener is unable to sell his 80 percent stake to Basel Dream & Vision AG due to a superprovisional injunction. Centricus is the British asset manager, would also have a stake in the company. Burgener will still have the majority of votes.
As per FC Basel Holding AG Announcement, Burgener und Degen are quick to seek an outcourt settlement "in support of FCB".
My Website: https://www.nkf.ch/newsroom/deals-cases/david-degen-acquires-majority-of-shares-in-fc-basel-holding-ag-from-bernhard-burgener/
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