Sika/Saint-Gobain voting rights appeal decision now expected in spring 2018 - report (translated)
04 DEC 2017
A legal dispute between Sika [VTX:SIK] and Saint-Gobain [EPA:SGO] is not expected to be resolved by the Zug Superior Court this year, Aargauer Zeitung reported. The Swiss daily cited well-informed sources who told the AZ weekend edition 'Schweiz am Sonntag', a decision is now expected in the spring 2018 at the earliest.
Background:
Schenker-Winkler Holding (SWH), the holding company of the Burkard family, is appealing a decision of the Cantonal Court Zug which ruled that the restriction of SWH's voting rights for the election of the Board at the 2015 AGM pursuant to the share transfer restriction ("Vinkulierung", art. 4 of Sika's articles of association) was legal and denied all requests of SWH.
SGO agreed to acquire the Burkard family shares in December 2014 for a sum of CHF 2.75bn.