Burgener would like Degen forced to sell his shares

Bernhard Burgener    asks for the sale David Degen's shares.
Picture:
Keystone

Bernhard Burgener   vs David Degen is yet another step in the FC Basel owner dispute. Burgener's plans are backed by the Board of Directors. However, there isn't  https://www.pilatustoday.ch/schweiz/david-degen-uebernimmt-den-verein-von-bernhard-burgener-141868558 .

The Monday morning session was of FC Basel Holding AG's Board of Directors. The majority of the four-person board comprised of Burgener and Degen along with Karl Odermatt and Peter von Buren agreed with the plan of the former owner. According to a report by the holding company he demanded Degen for his share to be transferred to Basel Dream & Vision AG.

Burgener's shares can be sold to minor shareholders through the Board of Directors under the terms of a contractually defined law. According to the Board of Directors this so-called drag along right is in contrast to Degen's rights to presale.

Burgener and his group are now making an announcement in the ongoing dispute over the ownership. Degen insists on exercising his right of first refusal, which he would like to exercise at 16.4 million Francs. Burgener was able to sell his 80-percent stake to Basel Dream & Vision AG However, Degen holds an injunction to stop the sale. The British asset manager Centricus would also have an investment in the new company. Burgener would have the majority of votes.

According FC Basel Holding AG's announcement, Burgener & Degen are seeking an out of court settlement "in the best interest of FCB."