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The arbitration procedure on the sale of Omega Pharma between Marc Coucke, the investment fund Waterland and the pharmaceutical giant Perrigo starts on Monday.
Due to the corona pandemic, the proceedings before the Cepani arbitration court are taking place with a few months delay and completely digital. That writes De Tijd.
The procedure revolves around the sale by Coucke and Waterland of Omega Pharma to Perrigo at the beginning of 2015. The Americans put 3.8 billion euros on the table to recruit the Flemish specialist in prescription-free medicines.
Perrigo felt cheated after the takeover. It accuses Coucke and Waterland of fraudulently presenting Omega Pharma’s finances in order to negotiate a higher selling price. Coucke and Waterland deny.
The American pharmaceutical giant filed a claim for 1.9 billion euros against Coucke and Waterland. Coucke filed a counter-claim.
The pleas for Cepani (Belgian Center for Arbitration and Mediation) must last 4 to 6 weeks. A final decision will not be made until next year at the earliest.
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