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Bernhard Burgener is requesting the sale David Degen’s shares.
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Keystone
Another issue is the owner dispute over FC Basel between Bernhard Burgener und David Degen. Burgener is supported by the Board of Directors. But, no agreement has been reached.
Monday morning saw the day of FC Basel Holding AG's board directors. Burgener, Degen, Karl Odermatt, and Peter von Buren all approved the previous owner's plans. According to a statement issued by the holding company that he was a part of, he asked Degen to sell his stake in Basel Dream & Vision AG.
When it does, the Board of Directors relies on a contractually stipulated law that allows Burgener to sell its own shares to those of the minority shareholders in the same terms. This drag-along method is believed to be superior to Degen's presale rights.
Burgener and his team are now making a move in this dispute between the owners. Degen insists on his right to first refusal, which he is seeking to exercise in exchange for 16.4 million Francs. Burgener's stake of 80% in Basel Dream & Vision AG is being blocked by a super-provisional restraining order. Centricus, the British asset manager, would also have an interest. Burgener would hold the majority of votes.
According FC Basel Holding AG's announcement, Burgener & Degen are seeking an out of court settlement "in the best interest of FCB."
Read More: https://www.youtube.com/watch?v=DHYTMAYLMtU
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