InterCure (NASDAQ:INCR) stated Tuesday that an Israeli courtroom has determined to rule in favor of the corporate throughout the arbitration technique of the Cannolam case introduced forth by sure minority stakeholders.
The arbitrator decided that Cannolam, which is without doubt one of the subsidiaries of the corporate, owes “tens of tens of millions” in Shekels to InterCure.
The minority shareholders didn’t switch their a part of the Cannolam debt owed to the corporate, and because of this, their shares in Cannolam had been transferred to the corporate.
The corporate stated it now holds 100% of the shares in Cannolam, which has the unique proper to make use of the “Cookies” model in Israel and different territories.
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