World News: 16:00 GMT Saturday 13th January 2018. [EQS Group via SPi World News]
Airbus SE / Key word(s): Legal Matter
Ad-hoc release, 13 January 2018
Airbus Provides Update on Legal Cases
- Acknowledges arbitral award of EUR 104 million in commercial dispute between Matra Défense S.A.S. and the Republic of China
- In discussion with Munich public prosecution (Staatsanwaltschaft München I) for potential termination of Eurofighter Austria investigation
Airbus SE (stock exchange symbol: AIR) is providing an update on two unrelated legacy legal cases.
The first legal legacy case concerns a commercial dispute, previously mentioned in the company's Financial Statements, between subsidiary Matra Défense S.A.S. and the Republic of China (Taiwan). In 1998, Matra Défense S.A.S. was acquired by one of the French predecessor companies which later merged into EADS.
Airbus acknowledges notification of an arbitral award on 12 January 2018 concerning a breach of contract claim related to a purchase agreement signed in 1992 for the supply of missiles for which the products were delivered in the years shortly thereafter. The award amounts to EUR 104 million.
Matra Défense S.A.S. is reviewing the award before evaluating the next steps to take following the outcome of this arbitration.
The second unrelated legal legacy case concerns the ongoing investigation by the Munich public prosecution (Staatsanwaltschaft München I) in relation to the sale of Eurofighter aircraft to the Republic of Austria.
Airbus confirms that it is in discussion with the Munich public prosecution (Staatsanwaltschaft München I) about the potential termination of the investigation in the context of the sale of Eurofighter aircraft in 2003 by former EADS Deutschland GmbH (renamed Airbus Defence and Space GmbH) to the Republic of Austria. Once concluded, Airbus will disclose the result.
|P.O. Box 32008|
|2303 DA Leiden|
|Phone:||00 800 00 02 2002|
|Fax:||+49 (0)89 607 - 26481|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
Read More: http://www.dgap.de/dgap/News/?eqsNewsID=1668709
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2018. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 0751938.