Stork to ignore split-up demands

Tuesday 14 November 2006

Industrial group Stork is to ignore demands from two powerful shareholders that it sell off two divisions so it could focus purely on aerospace.

In a statement, Stork said hedge funds, Paulson and Centaurus – which control around 30% of the shares – did not have a credible alternative and a sell-off 'was not in the interests of the company'. At a shareholders' meeting in October, a majority voted in favour of a sell-off. The vote was non-binding.

© DutchNews.nl

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