Are you sure?

Termination of KEG lawsuit settled out of court becomes legally binding

The Budapest Municipal Court's termination of KEG Central European Gas Terminal's lawsuit settled out of court against Ganz Híd, Daru és Acélszerkezet-gyártó has become legally binding, KEG announced.

KEG said in December that it had agreed to settle out of court a HUF 203 million forfeiture penalty with Ganz Híd, Daru és Acélszerkezet-gyártó in exchange for a 60% stake in the company's German machinery and steel structures unit BERMA-GANZ. KEG also signed for a ten-year exclusive licensing agreement for BERMA-GANZ's products in Egypt.

KEG noted at the time that the company expects to generate “significant revenue” from the stake in BERMA-GANZ.