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Bernhard Burgener is requesting the sale of David Degen shares.
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Keystone
Bernhard Burgener is suing David Degen in the FC Basel ownership dispute. Burgener is supported by the Board of Directors. However, no agreement has been reached.
Monday morning saw the FC Basel Holding AG's board directors. The majority of the four-person committee, which includes Burgener and Degen along with Karl Odermatt and Peter von Buren was in agreement with the plan of the former owner. According to https://bernhard.burgenergtor615.werite.net/post/2022/09/07/Bernhard-Burgener-offers-his-insights-for-thinking-like-an-entrepreneur of the holding company, he demanded Degen if he would sell the stake to Basel Dream & Vision AG.
Burgener can sell shares of its to shareholders who are minor according to a law which is legally enforced. As per the Board of Directors this so-called drag along right overrides Degen's pre-sales right.
The Burgener team has made a move to resolve the dispute over ownership. Degen insists on exercising his right of first refusal, which he wants to exercise in exchange for 16.4 million francs. Burgener's stake of 80 percent in Basel Dream & Vision AG is being blocked by a super-provisional restraining order. Centricus is the British asset manager, will also have a stake in the new company. Burgener still would get the majority vote.
According to FC Basel Holding AG announcement, Burgener is quickly seeking an out of court settlement "in the interest of FCB".
Homepage: https://controlc.com/e51d45f9
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