Arbitration Ruling from the ICSID Delivered in Favor of Sodexo’s Benefits and Rewards Activities in Hungary
February 04 2019 - 3:03PM
Arbitration Ruling from the ICSID Delivered in Favor of Sodexo’s
Benefits and Rewards Activities in Hungary
Arbitration Ruling from the ICSID
Delivered in Favor of Sodexo’s Benefits and Rewards Activities in
Hungary
Paris, February 4, 2019 – On
January 28, 2019, the International Center for Settlement of
Investment Disputes (ICSID) delivered its decision in Sodexo’s
arbitration claim against the Hungarian State in the Group’s
favour. Due to changes in the
regulatory and fiscal environment in Hungary related to the
issuance of food and meal vouchers, Sodexo had filed a claim for
ICSID arbitration in July 2014 against the Hungarian state.
The decision delivered at the outcome of
proceedings is favorable to Sodexo, with the Hungarian State being
ordered to pay Sodexo an award of about 73 million euro, before
interest.
This decision represents an important step in
the process of resolving this dispute. The next step consists of
making sure that the ICSID arbitration tribunal’s decision is
implemented. The Hungarian state has up to 120 days to appeal.
About Sodexo
Founded in Marseille in 1966 by
Pierre Bellon, Sodexo is the global leader in services that
improve Quality of Life, an essential factor in individual and
organizational performance. Operating in 72 countries, Sodexo
serves 100 million consumers each day through its unique
combination of On-site Services, Benefits and Rewards Services and
Personal and Home Services. Sodexo provides clients an integrated
offering developed over more than 50 years of experience: from
foodservices, reception, maintenance and cleaning, to facilities
and equipment management; from services and programs fostering
employees’ engagement to solutions that simplify and optimize their
mobility and expenses management, to in-home assistance, child care
centers and concierge services. Sodexo’s success and performance
are founded on its independence, its sustainable business model and
its ability to continuously develop and engage its
460,000 employees throughout the world.
Sodexo is included in the CAC 40, FTSE 4 Good and DJSI
indices.
Key figures (as of August 31, 2018)20.4
billion euro in consolidated
revenues460,000 employees19th
largest private employer worldwide 72
countries100 million consumers served
daily14 billion euro in market capitalization (as
of January 22, 2019) |
Contacts
Media |
Investor Relations |
Laura SchalkTél : +33 1 57 75 85
69Laura.schalk@sodexo.com |
Virginia JeansonTé. : +33 1 57 75 80
56virginia.jeanson@sodexo.com |
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