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Belgium's IBA clashes over future of molecular unit
October 7, 2013 / 6:46 AM / in 4 years

Belgium's IBA clashes over future of molecular unit

BRUSSELS, Oct 7 (Reuters) - Belgian cancer diagnosis and therapy company IBA said it had received claims of about 17 million euros ($23.11 million) from SK Capital, the co-shareholder in its IBA Molecular unit, over the future of the jointly held business.

IBA said it had previously questioned the future financing of the unit and had notified SK Capital, which as a response had filed several claims including alleged breaches of the acquisition contract of IBA Molecular.

SK Capital holds a 60 percent stake in IBA Molecular, which develops and licences new molecules.

IBA, which holds 40 percent in the unit, said it was now looking at sending claims of its own.

The group said legal proceedings had not yet begun as the companies were seeking to settle, but it could not rule out an impact on its results in 2013. ($1 = 0.7355 euros) (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)

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