Family shareholders sue Sika directors

摘要

Schenker-Winkler Holding, the investment vehicle for the Burkard-Schenker family, which controls Swiss construction chemicals maker Sika is reportedly suing three independent directors. It is alleged that Christoph Tobler, Ulrich Suter and Monika Ribar caused the company to incur unnecessary costs in fighting the proposed sale of the family's stake in Sika to Saint-Gobain. It is the latest twist in an ugly battle between the Burkard-Schenker family and Sika's independent board members, following a deal announced in December that would see French materials giant Saint-Gobain acquire the founding family's stake for CHF2.75 billion (€2.66 billion). For historical reasons, Schenker Winkler Holding owns 16.1% of Sika's capital, but 52.4% of its voting rights.