E.ON Pays Arrow $110M To End Contractor Indemnity Battle

Law360, New York (December 21, 2012, 5:47 PM EST) -- Colorado's Arrow Electronics Inc. announced Thursday it would get $110 million from German electric utility giant E.ON SE to squash the myriad lawsuits that resulted from Arrow's 2000 purchase of an E.ON-affiliated aerospace and defense contractor accused of environmental violations in California and Alabama.

For its part, Arrow agreed to drop the indemnification suit it has pending against E.ON in German court, according to a statement from the Colorado company. Arrow, E.ON and Veba Electronics LLC — E.ON's U.S. subsidiary that previously owned the contractor Arrow...
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