October 12, 2016 / 5:55 AM / a year ago

Shareholder group reduces Sika voting stake below 5 pct

ZURICH, Oct 12 (Reuters) - A shareholder group comprising Cascade Investment, the Bill & Melinda Gates Foundation Trust, Columbia Threadneedle Investments and Fidelity International has cut its voting stake in Sika to just below 5 percent, it said on Wednesday.

The group had held a 5.2 percent voting stake in the Swiss construction chemicals group as of March 2015.

“Fidelity has informed the other members of the group that it has reduced its stake in Sika. As a consequence, the shareholders group’s participation in Sika is now 224,238 bearer shares reflecting 8.83 percent of Sika’s share capital and 4.9997 percent of voting rights,” it said.

Its members said they still supported management’s opposition to a takeover by France’s Saint-Gobain, which wants to buy a controlling stake held by Sika’s founding Burkard-Schenker family. (Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)

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