Sika: skyrockets 10% on the back of the Saint-Gobain deal
(CercleFinance.com) - At the Zurich stock exchange, the Sika share celebrates the deal to end the disputes with Saint-Gobain, in which they have been embroiled since the end of 2014, with a 10% hike.
The Swiss manufacturer of specialty chemicals for the construction industry thereby sees the end of a major legal battle.
At 8,300 francs, the Sika share is approaching the historic high of 8,400 francs it reached at the beginning of the year. At this rate, the group capitalises close to 21 billion francs, or 17.5 billion euros, with Saint-Gobain worth approximately 25 billion euros.
The Sika family of shareholders, the Burkard family, Saint-Gobain and Sika have finally found middle ground. The Burkard family exit the capital of Sika, with Saint-Gobain buying their SWH holding for 3.2 billion Swiss francs. Previously, SWH held approximately 16% of Sika's capital, giving it control of the voting rights that Saint-Gobain had agreed to buy back at the end of 2014 for 2.75 billion francs. But the opposition of Sika's management (and the ongoing legal battles) had stood in the way of the deal being struck.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Swiss manufacturer of specialty chemicals for the construction industry thereby sees the end of a major legal battle.
At 8,300 francs, the Sika share is approaching the historic high of 8,400 francs it reached at the beginning of the year. At this rate, the group capitalises close to 21 billion francs, or 17.5 billion euros, with Saint-Gobain worth approximately 25 billion euros.
The Sika family of shareholders, the Burkard family, Saint-Gobain and Sika have finally found middle ground. The Burkard family exit the capital of Sika, with Saint-Gobain buying their SWH holding for 3.2 billion Swiss francs. Previously, SWH held approximately 16% of Sika's capital, giving it control of the voting rights that Saint-Gobain had agreed to buy back at the end of 2014 for 2.75 billion francs. But the opposition of Sika's management (and the ongoing legal battles) had stood in the way of the deal being struck.
Copyright (c) 2018 CercleFinance.com. All rights reserved.