Saint-Gobain’s board of directors took note of the ruling by the Cantonal Court of Zug today in the court proceedings between Sika and its majority shareholder Schenker-Winkler Holding (SWH) which rejects the request of SWH to repeal the resolutions of the Annual General Meeting of Sika of 14 April 2015 for which the voting rights of SWH had been restricted.
Until today, 30 October, all actions relating to the merits of the case initiated by Sika to contest Saint-Gobain’s acquisition of a controlling stake in Sika had been rejected by the competent courts and authorities.
As SWH has stated its intention to appeal this decision to the High Court of Zug, Saint- Gobain is confident that the Swiss justice will, on appeal, restore the ownership rights of SWH, the Burkard family’s holding company.
Saint-Gobain’s board of directors affirms that it wishes to pursue this industrial project, which will create value for all stakeholders.
Saint-Gobain underlines that the agreement with the Burkard family is valid until June 2017 and can be extended by Saint-Gobain until December 2018.