Pamica Group AB (publ) (“Pamica”) has been informed that its subsidiary, Eskilstuna Dynamics Holding AB (“EDAB”), has received a notice of arbitration from the SCC Arbitration Institute (“SCC”).
The arbitration was initiated by NicFreJon Holding AB (“Claimant”), which has submitted a request for arbitration to the SCC. The operations of EDAB’s subsidiary were acquired from the Claimant, indirectly through EDAB, by Pamica Group in November 2023.
The Claimant asserts that EDAB is obligated to pay SEK 50,000,000 due to an alleged breach of contract related to the non-payment of an earn-out. Additionally, the Claimant is seeking interest on the amount and compensation for legal costs.
EDAB has been served with a copy of the request for arbitration and has been ordered to submit a response. Legal counsel has been retained to handle the matter. Both EDAB and Pamica assess the claim as unfounded and will therefore contest it.