Varta Microbattery fights for purchase price

Varta and the buyer of the micro-battery segment that it sold at the end of 2006 are still arguing about the final purchase price. The buyers were the VEG Beteiligungs GmbH and Buy-Out Beteiligungs-Invest AG (VEG/GEP) with headquarters in Vienna. Subject to verification of the purchase price adaptation, a sum of 30 m Euro was agreed upon. According to Varta AG, a purchase price slightly above this amount is justified. VEG/GEP, however, want a price reduction of approximately 10 m Euro. After negotiations for a settlement brought no result, the board of the Varta AG has now has gone to court in Frankfurt and asked for a referee decision in view of open evaluation questions. Meanwhile, the micro-battery business belongs to the Swiss Montana Tech Components.