the future of The steel group Schmolz+Bickenbach (S+B) is uncertain. Despite tough negotiations on Sunday, there was to date no agreement between the major shareholders Viktor Vekselberg (27 percent) and the Amag-owner Martin Haefner (17.5 percent) on the question of how the necessary recapitalisation of the ailing group, with over 10'000 employees, should look like. At the table, the founder's heirs, who hold about 10 percent of the stock seats.
Today, the shareholders are to vote on Haefners proposal, however, seems no chance: Haefner wants. 325 million Swiss francs include the under the condition that he keeps thereafter, 37.5 percent of the shares and thus become the biggest shareholder is He also wants to be a of the obligation discharged, to the minority shareholders a takeover offer.
want to Vekselberg and his Holding Liwet know nothing. So Liwet reiterated in an open letter at the weekend that a solution "must not have a control exchange office result". Haefner insisted again in an Interview with the "NZZ on Sunday" to want to take Power: "Liwet is as a shareholder welcome, but must accept that I want to take as the main money lenders decisive influence."
In the Finma
And even if Vekselberg Haefners would accept the conditions, is in the stars whether this solution works complained. Because the takeover Commission does not want to get rid Haefner of the duty to the minority shareholders an offer to purchase make. In contrast, Haefner, and S+B in the case of Finma, have filed a complaint. To Friday could be made for this input. Therefore, the Finma will only be on 9. December to decide in the case.
According to the "Sunday newspaper" has Vekselberg now an alternative rescue plan. According to the probable rejection of Haefners Plan to the General Assembly, he will submit to the Hearing to an alternative recapitalization to the shareholders for a vote. Accordingly, it is intended to give a capital increase of 200 million Swiss francs. Since the money is not enough to put the group back on a solid footing, to Vekselberg and Haefner eat an additional CHF 100 million as a subordinated loan in a single coat.
But Haefner rejects this Plan. A Problem is, that some underwriters would not support the Plan, is the response from interested parties. Both sides emphasize their good will. But time is running out. According to a S+B-speaker of the liquidity of the steel group extends until January.
Created: 02.12.2019, 08:48 PM