AutoTicket, a joint venture between entertainment and ticketing platform CTS Eventim and Kapsch TrafficCom, is set to receive compensation and damages payment amounting to €243m (£208m/$264m) from the Federal Republic of Germany.
The total will be awarded due to a settlement agreement with the Federal Republic of Germany, to end the arbitration proceedings conducted due to the termination of the operations contract for the collection of the infrastructure charge (‘passenger car toll’).
According to a press release from Kapsch TrafficCom, a provider of transportation solutions, the settlement is expected to be formally finalised and executed in the coming days.
The operator agreement concerning the collection of the car toll in Germany was terminated in 2019, and AutoTicket originally brought claims of compensation of roughly €560m against the Federal Republic of Germany.
CTS Eventim and Kapsch TrafficCom had founded AutoTicket to collect the toll, but the European Court of Justice (ECJ) overturned the plans in 2019.
In accordance with the settlement reach, AutoTicket will have to pay, out of the €243m, the winding-up and other costs as well as expenses already incurred and future expenses. Kapsch TrafficCom expects the inflow of at least €80m.