Heimstaden AB (publ) can report that a final award has been issued today in respect of the arbitration proceedings between Alecta Tjänstepension Ömsesidig and Heimstaden Investment AB, a wholly owned subsidiary of Heimstaden AB (publ), under the Shareholders Agreement pertaining to Heimstaden Bostad AB (publ).
The arbitral tribunal has in its final award decided in favour of Heimstaden, confirming that there has been no breach of the non-compete undertaking in the Shareholders Agreement.
Co-CEO of Heimstaden AB (publ) Christian Fladeland comments:
- "We are pleased that the arbitral tribunal has confirmed our interpretation of the Shareholders Agreement. We look forward to leaving this dispute behind us and continue with what we do best - and what we have continued to do throughout these proceedings; to create steadily improved results and value for all Heimstaden Bostad shareholders".
The award is final and non-appealable.