29th Jan 2015 09:35
LONDON (Alliance News) - Alpha Real Trust Ltd shares were higher Thursday morning after the company said it had received a favourable ruling in its arbitration with Logix Group over the Galaxia joint venture in India.
Alpha said the Arbitral Tribunal ruled Logix had breached the terms of the shareholder agreement and ruled Logix would have to pay Alpha INR450 million, the amount Alpha invested in the joint venture, along with all associated arbitration costs.
At current exchange rates, Alpha Trust has been awarded a total of GBP9.2 million, it said.
Shares in the trust were up 6% to 58.85 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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