Exail Technologies said on Friday it restated its half-year financial statement to recognize a €329 million liability for financing provided by creditor ICG. The company started this review after Thales proposed an acquisition. Many contractual clauses got checked following a June dispute between the two sides over valuation issues.

Oct 9 (Reuters) - French underwater drone maker Exail Technologies (EXA.PA), opens new tab said on Friday it had restated ​its half-year financial statement to recognize ‌a €329 million ($369 million) liability for financing provided by creditor ICG, after a review of contractual ​clauses triggered by Thales's (TCFP.PA), opens new tab proposed acquisition ​of Exail.

The restatements follow a June dispute between ⁠Exail and ICG over the valuation ​of Exail Holding — the unlisted subsidiary through ​which ICG holds bonds and preferred shares — where the two sides were about €380 million apart.

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Reporting by Hugo Lhomedet and Matthieu ​Huchet in Gdansk, editing by Milla Nissi-Prussak