SIKA DOES NOT SUPPORT CHANGE OF CONTROL TO SAINT-GOBAIN
(Thomson Reuters ONE) -
Sika AG /
SIKA DOES NOT SUPPORT CHANGE OF CONTROL TO SAINT-GOBAIN
. Processed and transmitted by NASDAQ OMX Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
The Board of Directors and the Group Management of Sika were informed Friday
evening, December 5, 2014, that the French Group Saint-Gobain intends to
indirectly acquire all shares held by the Burkard family, Sika's current
majority shareholder. If the transaction were to be closed, Saint-Gobain would
control 52.4% of all voting rights and 16.1% of Sika's share capital. The Board
and Group Management are informed that Saint-Gobain will not make an offer to
public shareholders of Sika AG and that the transaction is subject to approval
by the anti-trust authorities.
The Board and Group Management of Sika AG have neither been involved nor
consulted in connection with the proposed transaction. The Board and Group
Management do not support the change of control of Sika to Saint-Gobain. The
Board neither sees the industrial logic in the transaction, nor significant
synergies for Sika. Furthermore, the Board and the Group Management believe that
shareholder value would be impaired as Sika in the planned set-up would not be
able to continue its successful growth strategy.
Sika's ownership structure is unique. For historic reasons the Burkard family
was able to control Sika with only 16% share in the capital. 84% is owned by
public shareholders, which will not receive an offer for their shares. The trust
of these shareholders has relied on the repeated public commitment of the family
to act as Sika's anchor shareholder and accompany the Group in the best interest
of all shareholders.
The intended transaction would bring a fundamental change. Unlike the family,
Saint-Gobain is an industrial investor and numerous conflicts to the detriment
of the public shareholders could arise. The non-conflicted Board members and the
Group Management each independently have come to the conclusion that if the
transaction materializes they are no longer in a position to serve in the best
interest of the company and all its stakeholders. They have therefore decided to
resign following closing of the transaction. The closing will occur once the
anti-trust approval has been obtained.
A press and analysts' conference will take place at 9 a.m at Sika Technology AG,
Tüffenwies 16, 8048 Zurich. Presentations will be held by Chairman Paul Hälg and
CEO Jan Jenisch.
Link to presentations/webcast of the conference:
www.sika.com/presentations
DATE December 8, 2014 CONTACT Dominik Slappnig
SIKA AG Zugerstrasse 50 Corporate Communications &
6341 Baar, Switzerland Investor Relations
www.sika.com TELEPHONE +41 58 436 68 21
E-MAIL slappnig.dominik(at)ch.sika.com
SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development
and production of systems and products for bonding, sealing, damping,
reinforcing and protecting in the building sector and the motor vehicle
industry. Sika has subsidiaries in 84 countries around the world and
manufactures in over 160 factories. Its more than 16,000 employees generate
annual sales of CHF 5.14 billion.
The media release can be downloaded from the following link:
Media Release:
http://hugin.info/100359/R/1878060/661947.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sika AG via GlobeNewswire
[HUG#1878060]
Unternehmensinformation / Kurzprofil:
Datum: 08.12.2014 - 06:00 Uhr
Sprache: Deutsch
News-ID 357703
Anzahl Zeichen: 4399
contact information:
Town:
Baar
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 224 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SIKA DOES NOT SUPPORT CHANGE OF CONTROL TO SAINT-GOBAIN"
steht unter der journalistisch-redaktionellen Verantwortung von
Sika AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
