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Tag Archives: Cantonal Court of Zug
The Swiss Cantonal Court of Zug has denied Schenker-Winkler Holding’s (SWH) request to uphold the company’s voting rights in Sika AG. SWH is owned by the Burkard family, which controls 16.1 percent of Sika’s capital with 52.4 percent in voting rights. SWH plans to sell its stake in Sika to French-conglomerate Saint-Gobain. The Sika board and management seeks to restrict the Burkard family’s voting rights to 5 percent given its desire to sell its Sika shares to Saint-Gobain.
The Cantonal Court of Zug in Switzerland has dismissed Schenker Winkler Holding AG (SWH) request to review a decision by Sika’s Board of Directors to reduce the company’s voting rights to 5 percent. The Burkard family-owned company controls 16.1 percent of Sika’s capital and had 52.4 percent in voting rights. But now that SWH is limited to 5 percent voting rights, it can’t call an official meeting, making it more difficult for French building materials company Saint-Gobain to proceed with its deal to purchase SWH for $2.84 billion USD (CHF 2.75 billion). The deal was designed to give controlling interest in Sika to Saint-Gobain.