NCC & Covid-19: the EUR 30 million Tennor break up fee0 uur college
mr. Timo Jansenadvocaat Lexence
McCourt Global Sports and Media LLC and Tennor Holding B.V., the Dutch based investment firm of German financial wizz kid Lars Windhorst, entered into an LOI on the € 169 million sale of McCourt’s 50% stake in Global Champions Tour, an equestrian show-jumping business. The LOI stipualtes that if the deal has not materialized in March 2020, Tennor forfeits a break up fee of € 30 million. Case NCC 2020:2406 of 29 April 2020 deals with the questions whether Tennor is to effectuate the transaction or whether the current COVID -19 circumstances allow it to walk away from the transaction and the € 30 million break fee.
Deel dit bericht op: