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Bernhard Burgener , requests the sale of David Degen's shares.
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Bernhard Burgener is suing David Degen in the FC Basel ownership dispute. The Board of Directors supports Burgener's plans. However there hasn't been any agreement reached.
The FC Basel Holding AG Board of Directors met Monday morning. The majority of the four-person committee comprising Burgener and Degen as well as Karl Odermatt and Peter von Buren, approved the plans of the former owner. According to a document released by the holding company Degen asked Degen to transfer his stake to Basel Dream & Vision AG.
The Board of Directors relies upon an agreement between the parties to allow Burgener to sell its shares to shareholders who are minority shareholders at the same conditions. According to the Board of Directors, this drag-along rights is preeminent over Degen's pre-sale right.
Burgener and his team have made a move in this dispute with the ownership. Degen asserts that he is entitled to the right to first refusal. He would like to claim for 16.4million francs. Burgener was able to sell his stake of 80 percent to Basel Dream & Vision AG, but Degen has an injunction that is superprovisional. The British asset manager Centricus could also own an interest in the company. Burgener would still receive the majority of the votes.
As per FC Basel Holding AG Announcement, Burgener und Degen are looking to settle an out-of-court settlement "in favor of FCB".
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