Pokerstars and OHLA founder to settle their differences at Canalejas at Paris Arbitration Chamber

Mohari and OHLA are 50% partners of Canalejas, then in 2017, the Israeli-Canadian businessman’s investment holding company Grupo Villar bought its subsidiary in Mir for 215 million euros. According to various sources, although this is not related to the conflict and there is no clear mandate or procedure, OHLA’s intention is to sell its stake in the project to reduce its debt.

At the time of the 50% acquisition, both partners signed an agreement providing, among other things, a preferential takeover right by the other party as long as one of them decides to withdraw from participation. Mohari sources comment: OHLA offered him and it was not implementedWhich Allows OHLA to sell freely on the market. Another aspect of this agreement is the guarantee of profitability for Mohari’s investment.

Dispute about the agreement of partners

Openly Asset ManagementIn the hands of OHLA, and for Mohari, these guarantees led to a dispute between the partners.. as predicted hidden This morning, Mohari decided to take legal action after “the parties failed to resolve their differences in the interpretation of certain obligations” assumed in the agreement between the shareholders. Sources close to the Pokerstars founder’s company reiterate that the disagreement between the partners stems not from OHLA’s intention to sell the asset, but rather “how things are run” at the Canalejas Center. At this time, the request for arbitration, which Mohari will use, has not yet been fulfilled.

The International Arbitration Chamber in Paris must decide Who is right in the interpretation of the partnership agreement and whether the provisions guaranteeing the return to Mohari are legal or if there is an unjust enrichment for the foreign investor that could jeopardize the viability of the Canalejas project.