Publication of insider information pursuant to Article 17 MAR
Munich (Germany), 3 August 2018 – The legal dispute between Mutares AG (ISIN DE000A0SMSH2) and Diehl AKO Stiftung & Co. KG (“Diehl”) regarding the acquisition of the Photovoltaics business unit by the indirect Mutares subsidiary Platinum GmbH and all other related legal disputes were settled amicably by concluding a settlement agreement between Mutares AG, the insolvency administrator for the assets of Platinum GmbH and Diehl.
As part of the settlement Mutares AG has committed itself to a one-time payment of EUR 7.5 million to Diehl. The preliminary amount in dispute of the claims asserted by Diehl before the Ravensburg Regional Court amounted to approximately EUR 22.5 million plus interest.
Mutares AG expects this agreement to have a negative impact of EUR 5.5 million on the annual result based on provisions already formed. The settlement reached by mutual agreement concludes all legal disputes pending between the parties involved since 2014 and leads to a final settlement of all possible mutual claims in connection therewith.