August 4, 2017 / 3:08 PM / a year ago

RHI shareholders approve takeover of Magnesita

VIENNA, Aug 4 (Reuters) - Shareholders of Austrian fireproof materials maker RHI on Friday formally approved the company’s plan to buy Magnesita of Brazil despite objections voiced by some small stakeholders about the deal’s complexity and cost.

Holders of more than 99 percent of the shares represented at the extraordinary general meeting approved the plan, which has already been cleared by the European Union and Brazilian competition authorities.

Issues some smaller shareholder objected to included the decision to list the merged firm in London and incorporate it in the Netherlands while having its management based in Austria. Concerns were also raised about the debt RHI would take on. (Reporting by Francois Murphy; editing by David Clarke)

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