The fight about the mooted sale of Sika, the Swiss maker of building materials, to Saint-Gobain is in its next phase. The proponents of the sale have launched their next attack on their opponents, including Julius Baer Chairman Daniel Sauter.
The drawn-out conflict about the sale of Sika is making headlines again: the group of heirs organized in the Schenker-Winkler-Holding (SWH) have lodged an appeal against a decision of a court in Zug, which had found in favor of the validity of decisions taken by the annual general meeting in April, Sika said in a statement last night.
SWH rejects the re-election of board members Monika Ribar, Paul Haelg, Ulrich Suter and Christoph Tobler – as well as of Daniel Sauter, the chairman of Julius Baer private bank.
Restriction of Voting Rights
The re-election had become possible by a restriction imposed on the voting rights of SWH. The cantonal court in Zug had given a verdict in favor of the restriction, which SWH now appealed against.
The fight about the sale of Sika to Saint-Gobain is in its third year and there are no signs of any of the two sides giving in soon. Sauter and fellow board members have sided with the company’s executive, which opposed the sale to the French.
The heirs of Sika have also taken to personal attacks. According to media reports, they lodged a complaint with banking regulator Finma against Sauter.
