In the battle to save the steel group Schmolz Bickenbach (S + B) calls on the Russian Investor Viktor Vekselberg to the reconciliation. “I call on all the shareholders of Schmolz Bickenbach – Liwet, Haefner, and the family shareholders to pool for the benefit of the company’s forces, to prevent its collapse,” said Vekselberg in an interview with the magazine “balance sheet” (online at 29.11.).
Vekselberg himself is not, however, participate as with the last bailout six years ago, actively participate in the elaboration of a solution, he said. This is because, unlike portrayed in the media, he did not Say in the case of the investment company Liwet, which today holds 26.9 per cent to S + B, the. “The proportion of the Columbus Trust, a Trust where I was the Beneficiary’m Liwet is not controlling”.
According to the “balance” is the proportion Vekselbergs to Liwet is only 40 percent. A further 16.7 per cent would be held by the New Generation Trust, which will be controlled by Topkadern of the Renova, and of Vekselbergs environment. That the Oligarch could not bring their interests, nevertheless, on his line, lies in the fact that the Columbus Trust, and it is not the decision-makers, but a Russian lawyer as an independent Trustee.
This construct had to have to choose Vekselberg, in order Liwet and their investments are considered to be controlled by it, and thus not under the US sanctions fall, which he himself is subject to since April of last year.
Open letter from Liwet
On Friday evening, the participation of society expressed themselves Liwet to the thing, this is in the Form of an open letter to the following address of Martin Haefner. The society shares the view that Schmolz Bickenbach am in urgent need of money, said the letter, to be published at the weekend in various Newspapers. “We share your concern for the future of Schmolz Bickenbach,” writes Liwet. “The company desperately needs money; in order that all are also Liwet – in agreement. Still time to find a constructive solution for S + B, which is in the interest of all shareholders, not just one.”
Liwet is also ready money to be put in the oven shot, but only “as much as is really necessary so that the company can survive”. Also Liwet calls on the shareholders to “jointly seek a solution that guarantees a better future for the company and its stakeholders”.
The solution should have no change of control will result. Otherwise, the support of the company necessary funds would not be used for operational needs but to immediately purchase the corporate bonds that would actually be until 2022 due.
S + B needs money
Meanwhile, S + B is true, and desperately needs fresh capital. Next Monday, shareholders will vote at an extraordinary General meeting about a capital increase. Major shareholder and Amag-owner Haefner wants to eat up to 325 million Swiss francs into the company in a single coat and its share to 37.5 per cent increase. So he would be secure in the S + B and more influence, what would be to the detriment of Liwet, which is the largest shareholder.
the plans of his opponent Haefner Vekselberg expressed in relation to the “balance sheet” reserved: “It is difficult to evaluate the Plan of Mr. Haefner,” he said. “I know only what the media reported, and these reports leave more questions than answers.”
appeal against the Finma
Recently, however, has put the Swiss Takeover Board (UEK) the gleisten capital measures Haefners high hurdles in the way of an application for exemption rejected. The Amag-owner of A should Exceed the one-third limit to all other shareholders a mandatory offer. In contrast, Haefner and Melted resist Bickenbach, the Swiss Federal. Financial market Supervisory authority Finma against the UEK decision of the appeals have been inserted.
support there is from the industry Association Swissmem, the criticism of the ICE decision. In addition, seven National and Ständeräte, as well as the Lucerne government are committed to the rescue of S + B, because in Emmenbrücke and Luzern 800 jobs are at stake.
The Finma, said on Friday evening that it will examine the appeals of Haefner and S + B, and its decision is expected to on Monday, 9. December 2019, publish, prior to the commencement of trading. (nag/sda)
Created: 29.11.2019, 19:21 PM
