GECI International: settlement agreement with Eolen

(CercleFinance.com) - GECI International announces that it has reached a settlement agreement putting an end to a previous dispute concerning the acquisition of the Eolen Group.


As a reminder, in 2015, the GECI International Group acquired the Eolen Group and its subsidiaries.

A dispute ensued with the seller. Following the ruling handed down by the Paris Court of Appeal on February 13, 2024, and the conviction of the seller, the two parties reached an agreement and put an end to their dispute by signing a transactional memorandum of understanding on July 31, 2024.

This agreement enables GECI International to eliminate a significant risk, and puts an end to a dispute that related to facts dating back almost ten years.

Financial details of this agreement will be given in the next half-yearly financial report, GECI assures.

Copyright (c) 2024 CercleFinance.com. All rights reserved.