Unipetrol said that the execution of the agreement also helped eliminate the risk of the payment of high contractual penalties by Unipetrol to Deza, and of any potential legal defects of the sale of the shares in Agrobohemie and Synthesia.
Deza also agreed in the amicable settlement of disputes to withdraw actions filed against Unipetrol in relation to the sale of Agrobohemie and Synthesia shares, and to refrain from seeking any contractual penalties or damages from Unipetrol.
Francois Vleugels, chairman and CEO of Unipetrol, said: We are satisfied with the prices for which we have sold the shares in Agrobohemie and Synthesia because they reflect the genuine fair value of the shares.
