May 19, 2018 / 8:32 AM / a year ago

Schmolz + Bickenbach: Vekselberg-linked Liwet & Renova hold 26.9 pct voting stake in new shareholder scheme

ZURICH, May 19 (Reuters) - Investment vehicles tied to Russian oligarch Viktor Vekselberg, Liwet Holding AG and the Renova Group, hold 26.9 percent of all voting rights in Schmolz+Bickenbach, according to a disclosure report the company received after Renova Group and Schmolz + Bickenbach Beteiligungs GmbH terminated an existing shareholders' agreement.

"SCHMOLZ+BICKENBACH was informed by the two parties (Renova and Schmolz + Bickenbach Beteiligungs GmbH) that they terminated the existing shareholders' agreement with regard to the company with immediate effect," Swiss steelmaker Schmolz + Bickenbach said in a statement on Saturday.

"The corresponding disclosure report shows that Liwet Holding AG and Renova Innovation Technologies Ltd. (Renova Group) together hold a total of 26.90 percent of the voting rights in the company. According to information available to the company, SCHMOLZ + BICKENBACH Beteiligungs GmbH holds 10.09 percent of the voting rights."

On Friday, a spokesman for Renova said Russian Oligarch Viktor Vekselberg's stake in Schmolz + Bickenbach had dropped to 12.6 percent from 42 percent after a deal with minority shareholders and managers at his holding group. (Reporting by Brenna Hughes Neghaiwi, Editing by William Maclean)

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