The Paris Economic Activities Court ruled that Altarea had not wrongfully terminated the acquisition agreement and dismissed Primonial sellers’ claims for damages against Altarea in their entirety

The Court ruled as follows:

• “Holds that Alta Percier did not wrongfully terminate of the Protocol nor prevent the completion of the March 2, 2022 sale , in breach of its obligation to cooperate and its other commitments under the July 23, 2021 sale protocol .”
• “Dismisses the Principal Sellers’ claim, in the alternative, for judicial termination of the Protocol at the fault of the company Alta Percier.”
• “Dismisses the Principal Sellers’ claims for joint and several liability of Alta Percier and Altarea for damages for non-reinvestment, non-receipt of returns, image, and direct costs and internal costs.”
• “Dismisses the Individual Investor Sellers’ claims for joint and several liability of Alta Percier and Altarea for loss of opportunity to realize a capital gain, non-reinvestment of sale proceeds, loss of opportunity to reinvest in new management packages, image and career damage, and incurred expenses.”

The Court also dismissed Altarea and its subsidiaries’ counterclaims.

This judgment is subject to appeal.