Altana says 6 shareholders sue co over sale of pharma ops to Nycomed |
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Published
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Wed, 07 Mar 2007 10:02
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FRANKFURT (AFX) - Altana AG said six shareholders are suing the company regarding the sale of its pharmaceutical operations to Danish company Nycomed Holding AS.Altana is 'optimistic' about the hearing, due in Frankfurt district court on May 8, a company spokesman told AFX News.'We estimate the risk of losing the court case to be low,' added the spokesman.He explained that the six shareholders are claiming among other things that majority shareholder Susanne Klatten had been given advantages over other shareholders; that minority shareholders did not receive sufficient information regarding the sale of the company's pharma ops; and that the 4.6 bln eur selling price to Nycomed was too low.The spokesman said the court case will have no effect on Altana's relationship with Nycomed.Altana said it stands by the words of CEO Nikolaus Schweikart that the selling price reflected the 'true and fair value' of Altana's pharma ops.Altana closed the sale of its pharmaceuticals business to Nycomed for 4.6 bln eur on Dec 29, 2006.krysia.diver@afxnews.comkd/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Altana Chemie confirms FY sales and EBITDA outlook 