Switzerland: Saint-Gobain has started to sell its entire stake in Sika through its subsidiary Schenker-Winkler Holding (SWH). It previously acquired a 10.75% interest in Sika indirectly through the acquisition of 100% of SWH shares from the Burkard family in May 2018 as part of a global agreement with the Burkard family and Sika.
Saint-Gobain attempted to takeover Sika through acquiring a share of the company owned by the Burkard family in 2014. However, a legal counteraction followed and an attempt to transfer shares of Sika from the Burkard family was blocked by a Swiss court in late 2016. Saint-Gobain and Sika eventually ended the takeover attempt in May 2018 by retaining a 10.75% share in Sika, sales of other shares and other benefits. Following a two-year ‘lock-up period’ Saint-Gobain says it decided to dispose of its stake in Sika. It added that Sika chose not to exercise its right of first offer.
