ENENTO GROUP PLC, INVESTOR NEWS 1 OCTOBER 2020 AT 1.30 P.M. EEST
Arbitration tribunal solved the dispute between Enento Group and Eniro
Enento Group Plc announced on 16 August 2019 that it had received a claim for additional compensation from Eniro AB in relation to Enento’s acquisition of Proff companies from Eniro’s subsidiaries Eniro Sverige AB, Eniro Holding AS and Eniro Danmark A/S.
Eniro presented in its claim that the purchase price set out in the agreement and upon which the transaction was consummated was incorrect due to a “clerical error” on Eniro’s side. The transaction was made public on 20 May 2019 and was consummated on 1 July 2019. Enento deemed the claim to be without any merit.
The dispute was settled by the Arbitration Institute of the Stockholm Chamber of Commerce. The Arbitration award was given on 1 October 2020 and according to the award Enento Group will pay Eniro SEK 23,713,421 and interest until the payment date and costs relating to the Arbitration for EUR 131,874.
Enento Group will report the payment in fourth quarter of 2020 as items affecting comparability.
ENENTO GROUP PLC
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Enento Group is a Nordic knowledge company powering society with intelligence since 1905. We collect and transform data into intelligence and knowledge used in interactions between people, businesses and societies. Our digital services, data and information empower companies and consumers in their daily digital decision processes, as well as financial processes and sales and marketing processes. Approximately 420 people are working for Enento Group in Finland, Norway, Sweden and Denmark. The Group’s net sales for 2019 was 146 MEUR. Enento Group is listed on Nasdaq Helsinki with the trading code ENENTO.