Pursuant to a press release issued by Liwet Holding AG, Zurich (“Liwet”) on May 18, 2018, Renova has divested the majority of its shareholdings in Liwet, Renova’s Swiss company holding a major stake in Oerlikon.
As a result, Renova’s effective shareholding in Liwet dropped below the controlling block and amounts to 44.46 % in total. While Renova’s shareholdings in Oerlikon have fallen from 43.04 % to approximately 20 %, Liwet’s stake in Oerlikon remains unchanged.
Oerlikon is a long standing global technological and engineering Group that provides professional services to facilitate customers to have high performance systems and products with protracted lifespan. It operates its business in three Segments (Surface Solutions, Manmade Fibers and Drive Systems) and has a global footprint of around 15,000 employees at 186 locations in 37 countries.