ECEX expects to complete the sale of Starman during the third quarter
East Capital Explorer AB (publ) (“ECEX”) today announces that it expects to complete the sale of Starman Group to Providence Equity, as communicated on 14 March 2016, during Q3 2016. The transaction was originally expected to close during Q2 2016. The reason for the delay is an ongoing discussion with one of Starman’s minority shareholders regarding its right of first refusal. ECEX has received two positive rulings from the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in this matter. However, due to a pending appeal ECEX cannot complete the transaction at this moment.