PARIS, May 11 (Reuters) - French building materials company Saint-Gobain and Swiss peer Sika said on Friday they had reached an agreement to end a long-standing legal dispute, which will result in Saint-Gobain acquiring a large stake in Sika.
The complex deal will see Saint-Gobain acquiring Schenker-Winkler Holding AG (SWH) from the Burkard family, heirs to the founder of Sika.
Saint-Gobain and SWH have also agreed to sell a 6.97 percent stake in Sika to Sika for 2.1 billion Swiss francs ($2.1 billion), with Saint-Gobain retaining a 10.75 percent stake in Sika via the holding company for a minimum of two years.
The Swiss company also plans to hold an extraordinary shareholders meeting to establish a new unitary share class.
$1 = 1.0029 Swiss francs Reporting by Sudip Kar-Gupta in Paris and John Miller in Zurich; Editing by Sunil Nair